Elon Musk suffered a loss of $8.59 billion on Monday. As a result, his total wealth is now only 170 billion dollars. Along with this, Musk also ranks first in terms of property damage this year. In second place is Facebook founder and CEO Mark Zuckerberg, who has lost a total of $83.5 billion so far. Apart from this, Adani Group chairman Gautam Adani is the only person among the top 10 rich whose wealth has increased this year. His wealth has increased by 53 billion dollars so far this year.
Cause of Asset Depreciation
A large part of Elon Musk’s net worth is from his Tesla shares. So far this year, shares of Tesla Inc have fallen more than 58 percent, a major reason for Musk’s decline in wealth. At the same time, Meta shares are behind the huge decline in Facebook CEO Mark Zuckerberg’s wealth. Shares of Meta, or Facebook, have fallen more than 67 percent so far this year.
The status of Tesla shares
Tesla has lost nearly half its market value as the stock wipes out all of its gains over the past 17 months. Elon Musk is the CEO of Tesla, which sells electric vehicles and home solar batteries. Musk is also the CEO of SpaceX, a rocket manufacturer used by NASA to resupply the space station, and owns a stake in social networking company Twitter.
According to an August 2022 regulatory filing, they own about 15% of Tesla. In April 2022, Musk offered to buy Twitter Inc for $44 billion, and the deal in the company was completed in October 2022.
Adani remains in the race for second place
Meanwhile, Asia’s richest man Gautam Adani is ahead of Jeff Bezos, although he once fell behind in the race for second place in the world’s billionaires list. In the latest Bloomberg Billionaires Index list, Adani is now $27 billion clear of second-placed Bernard Arnault. While Musk is on the first position and Jeff Bezos is on the fourth position with a net worth of $116 billion.
Jeff Bezos behind Adani
Amazon founder Jeff Bezos, once the world’s richest man, has slipped to fourth place on Bloomberg’s list of the top 10 billionaires. Now he has a net worth of $116 billion and Adani’s net worth is $14 billion more than Jeff Bezos’ net worth. Adani currently owns a net worth of $130 billion.