Elon Musk’s net worth has plummeted by more than anyone else in history over the past 13 months.
The Tesla billionaire has seen £200 billion wiped off his fortune between November 2021 and December this year, according to the Bloomberg Billionaires Index.
That is equivalent to the GDP of Greece.
The dramatic fall in wealth has seen Musk displaced as the wealthiest man in the world, losing the title to French business magnate, Bernard Arnault.
Musk’s net worth peaked at $338 billion in November 2021, according to Bloomberg, coinciding with the fortunes of Tesla.
However, the electric car maker has lost roughly 70 per cent of its value in 2022 following production delays in China, vehicle recalls, and concerns among investors that its CEO has been distracted by his new role as head of Twitter.
Tesla’s market cap is down by nearly $900 billion since November 2021, causing it to drop out of the top 10 most valuable companies.
In a recent email to Tesla staff, Mr Musk wrote that he believed Tesla will become “the most valuable company on Earth” in the long-term.
“Don’t be too bothered by stock market craziness,” he wrote, according to Reuters. “As we demonstrate continued excellent performance, the market will recognise that.”
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