Elon Musk is $8 billion poorer after taking control of Twitter, meaning his net worth has fallen by $66 billion this year

According to calculations by the wealth index, taking control of the social network left Musk $8 billion poorer.

The new owner didn't want to make more money, so he bought the social media platform.

The value of Musk before the deal was estimated to be $212 billion. The figure fell to $204 billion on Friday.

The net worth of Musk has fallen by $65 billion this year. Some investors expected the CEO to sell more stock in the company in order to fund the deal.

The net worth of Musk peaked in November of last year.

The other investors in the deal have suffered as well. Jack Dorsey's wealth fell by an estimated $380 million, while a Saudi investor took a hit of about $640 million.

While Musk's fortune has dipped, top executives who were let go as part of the billionaire's first moves will get about $100 million in payouts.

After months of trying to walk away from the deal, the CEO of the electric car company decided in October to buy it.

Musk holds senior roles at Neuralink and The Boring Company and is the CEO of both.