Elon Musk, the founder of Tesla, saw his net worth plummet by almost N206 trillion as the value of his company fell. He is still the richest man on the planet, surpassing Amazon founder Jeff Bezos by almost $73 billion approximately. The unpredictable character of the IT industry at the start of the year, according to analysis, caused his share decrease.
After losing about N206 trillion in less than a month, Elon Musk now has a net worth of N256 quadrillion. According to Bloomberg’s Billionaire’s Index, the South African-born billionaire’s net worth has decreased, but he still has a N31.1 trillion lead over Amazon founder Jeff Bezos.
On Wednesday, January 19, 2022, Musk’s fortune plummeted. The stock’s drop was most likely caused by the market’s stormy day, with the automaker’s share price falling by 3.4 percent.
The price has dropped by 5.3 percent after the company announced the speedy selling of shares in a fresh offering in the fourth quarter car sales earlier this year. The equities that fell on Wednesday are anticipated to continue to put downward pressure on the tech sector’s growth. A resurgence is expected. Analysts expect that the automaker’s future report will catch investors’ attention. When Tesla announces its fourth-quarter earnings on January 26, the company claims it will disclose further details to investors.
Musk and Amazon.com Inc. co-founder Jeff Bezos, the two men at the top of the Bloomberg Billionaires Index, have been specifically urged to take action by Beasley. Beasley was cited as suggesting that merely $6 billion (N2.4 trillion) might save 42 million lives.
