Billionaire Elon Musk, the owner of the electric car company, Tesla, and the space agency, Space X, has become the first person in history to make $200 billion in bankruptcy. US: Elon Musk becomes the first person who loses $200 billion in a year.
Musk, who had a net worth of $340 billion in November 2021, has now dropped dramatically to $137 billion after the value of his Tesla shares fell by 65%, according to Bloomberg.
Only on December 27, 2022, Musk lost 11% of his total assets due to the increase in the number of Covid-19 patients in China, which caused Tesla to temporarily suspend operations in the city of Shanghai.
He said, “Don’t be disturbed by the financial market and stocks that are doing badly these days, if we continue to work together with dedication and commitment these problems will be solved.”
Musk, who was once the world’s richest man, left the position last month to be hired by Bernard Arnault, a Frenchman from the family that owns the music giant LVMH.
Despite facing financial problems, in 2021 the Tesla Company was estimated to be worth $1000 billion, which led to the auction of major companies such as Apple, Amazon, Google, and Alphabet.
Musk currently owns $44.8 billion in SpaceX, an aerospace and space exploration company that aims to expand space to a permanent human settlement, accounting for 42.2% of the company’s assets.