$200 billion club loses last member as Elon Musk’s wealth tumbles – Times of India


No particular person on the planet has a fortune of greater than $200 billion–at least for now.
Elon Musk, the one billionaire who nonetheless exceeded that threshold heading into this week, noticed his wealth tumble by $13.3 billion on Wednesday to $198.6 billion. Tesla Inc. shares fell for the fourth-straight day to the bottom degree since September amid a broad decline in inventory markets across the globe.
Tesla’s 50-year-old chief government officer stays the richest particular person on the planet, in keeping with the Bloomberg Billionaires Index. Nonetheless, Musk has seen $71.7 billion worn out from his fortune up to now this yr, greater than the following three wealthiest folks mixed, as markets grapple with geopolitical tensions round Ukraine and extra hawkish central banks.

Bloomberg (1)

Musk’s wealth peaked at $340.4 billion on Nov. 4, when Tesla shares reached a report excessive. Days later, he requested his Twitter followers if he ought to promote a part of his stake, sparking a pointy decline within the firm’s inventory that erased $35 billion from his internet price in a day–a practically unprecedented sum. He ultimately accomplished a collection of inventory gross sales price greater than $16 billion and likewise donated $5.7 billion of shares to charity.
Amazon.com Inc. founder Jeff Bezos is the one different particular person whose wealth has ever exceeded the $200 billion mark, first reaching that milestone in April. His fortune fluctuated round that degree for many of final yr earlier than dropping beneath it for good in December.


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