Elon Musk has lost more than $100 billion in assets this year after Tesla’s stock price plunged to its lowest level in two years, according to Bloomberg News.
According to the Bloomberg Billionaires Index, the Tesla co-founder is still the richest person in the world with a net worth of $169 billion. Although his net worth fell from $8.6 billion on Monday, his net worth has fallen by more than $100 billion this year. from its peak value of $340 billion a few years ago.
Most of Elon Musk’s assets come from a large portion of electric car manufacturers. And the company is facing COVID control measures in China. which is the largest market outside the United States.
The company has also recalled more than 300,000 vehicles due to tail light defects. Dealing with supply chain issues and raw material costs soared 6.8% on Monday to $167.87 a share on the New York Stock Exchange. This is the lowest level since November 2020 and is down 52% this year, compared to a 29% drop in the Nasdaq Technology 100 this year.
Mr Musk, 51, has been busy with Twitter, the social networking company he bought last month for $44 billion. And the company has lost around 60% of its workforce since Musk took over. The latest redundancies took place last Sunday (November 20).
Tesla has to rely on Mr. Musk is this. It becomes a risk factor in the company’s securities information. Emphasizing that “Although Mr. Musk has given a lot of time to Tesla and has a passion for management, But he did not give it full time. Or our full coverage of Tesla. “
