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Elon Musk’s losses for 2022 top $100 billion

Elon Musk’s losses for 2022 top $100 billion

The year 2022 is not the best time for billionaire and modern genius Elon Musk. According to Bloomberg, the businessman has lost slightly above $100 billion since the beginning of the year, the most of anyone on the Billionaires Index.
Despite a number of successful deals, including the takeover of the Twitter social network, it has been a challenging year for the entrepreneurial genius. The financial losses of the world’s richest person strike the imagination. On November 21st alone, he lost $8.6 billion as Tesla’s shares dropped to the lowest level in two years. The acquisition of Twitter is named the main risk factor for the billionaire’s assets. Investors suggest that Musk’s interest in the new venture has affected his devotion to other projects. Musk himself partially confirmed their assumption, speaking at a business forum in Indonesia. He says he is overworked. “I have too much work on my plate, that’s for sure. I’m working the absolute most that I can work – morning to night, seven days a week.”
Musk’s fortune of $170 billion allows him to stay at the top of the ranking although the gap between him and Bernard Arnault, the chief executive of Louis Vuitton Moët Hennessy, narrowed to $13 billion. In early November 2021, the billionaire was worth a whopping $340 billion, an absolute record, but then the capitalization of his assets began to decline.

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