February 9, 2023
By Efosa Taiwan

Billionaire Elon Musk, formerly the richest man in the world, has broken a new record by becoming the first person in history to lose $200 billion.

According to the Bloomberg Billionaire’s Index, the Tesla founder and Twitter owner lost $200 billion of his wealth.

Musk’s wealth was believed to have plummeted to $137 billion after Tesla’s stock fell last week. This includes a massive 11 percent drop in Tesla stock on Dec. 27.

Tesla is now offering consumers in the United States a $7,500 discount before the end of the year for its two highest-volume models.

Recall that Musk’s fortune was $ 340 billion in November 2021.

Based on this, he was the richest person in the world for more than a year.

The new Twitter owner was then overtaken this month by Bernard Arnault, the French business magnate and co-founder of luxury goods powerhouse LVMH.

The post Elon Musk Becomes First Person in History to Lose $200 Billion appeared first on Vanguard News.

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