Wednesday, December 25, 2024

Business

The $ 200 billion club lost the last member as the wealth of Elon Musk fell

The $ 200 billion club lost the last member as the wealth of Elon Musk fell

No one on the planet has more than $ 200 billion in wealth – at least for now.
Elon Musk, the only billionaire who still exceeded that the threshold for this week, saw his wealth fell $ 13.3 billion on Wednesday to $ 198.6 billion. Tesla Inc. Stocks fell for the fourth day in a row to the lowest level since September amid a broad decline in the stock market throughout the world.

Tesla’s 50-year executive chief remains the richest person in the world, according to Bloomberg Billionaires Index. However, Musk had seen $ 71.7 billion out of its wealth so far this year, more than three of the next richest people were combined, because the market wrestled with geopolitical tensions throughout Ukraine and more central banks hawkish.

Musk’s wealth peaked at $ 340.4 billion on November 4, when Tesla’s shares reached a high record. A few days later, he asked his Twitter follower if he had to sell some of his shares, triggered a sharp decline in the company’s shares which removed $ 35 billion from its net wealth in a day – almost unprecedented number. He finally resolved a series of sales of shares worth more than $ 16 billion and also contributed $ 5.7 billion shares to charity.

Founder of Amazon.com Inc. Jeff Bezos was the only other person whose wealth had exceeded the value of $ 200 billion, first reaching the historical milestone in April. His fate fluctuated around that level for most years ago before falling beneath it forever in December.

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