A disgruntled Elon Musk at the 2022 Met Gala
Photo: WireImage, Theo Wargo. All rights reserved.
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Never in modern history has anyone lost as much wealth in 12 months as Elon Musk did in 2022. According to the Bloomberg Billionaires Index, what was once the richest person in the world is now around $132 billion poorer than on January 1. January – that roughly corresponds to the annual gross domestic product of Slovakia.
Here’s how Musk’s fortunes went down
Until mid-December, the Tesla and Twitter owner topped the daily updated list of the wealthiest people on the planet, but was then replaced by Bernard Arnault. For comparison: The French luxury goods oligarch can call around 165 billion US dollars his own, the tech innovator has to be content with 135 billion US dollars according to the current status (December 30).
Tesla stocks plummeting
In large part, Musk’s fortunes are down to Tesla stock’s plunge over the past 365 days. A share costs $ 114.82 on Friday afternoon, almost 70 percent less than a year ago. In the last week of December, the automotive group stopped production at the important plant in Shanghai. “Don’t let the madness in the stock market worry you too much,” Musk recently told his staff, according to Reuters, adding, “If we continue to excel, the market will recognize that.”
Elon Musk is looking for a fool
Dark clouds also hang over Twitter. Since the 51-year-old took over the management of the social network in October, he just doesn’t want to calm down. In his first official acts, the CEO fired several top executives and half the workforce, and then even speculation arose about a possible collapse of the platform.
Musk dismissed the thousands of reports of problems using Twitter by saying, “It works for me.” In early December, after a poll he had commissioned, he finally said he would step down from his role as CEO as soon as he “finds someone stupid enough to do the job.”
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