Famous tech entrepreneur and SpaceX founder Elon Musk has sustained a record blow to his wealth in recent months.
Since November 2021, Musk’s net worth has plummeted over $200 billion from about $338 billion to $137 billion in December 2022, of which $133 billion was lost in 2022 alone, according to the Bloomberg Billionaires Index.
Musk's recent losses surpass the entire riches of French tycoon Bernard Arnault who has overtaken Elon in the aforementioned billionaires’ ranking as the wealthiest man in the world with $162 billion to his name.
Describing Musk’s misfortune as the "biggest loss of wealth in modern history," some media outlets suggested that this situation occurred due to Tesla stock collapsing in recent months, as the company shares dropped by around 65 percent during 2022.