Tech billionaire Elon Musk’s net worth has dipped below $200 billion after Tesla shares recently hit an 11-month low. According to Teslarati, Musk has lost about $77.6 billion of his net worth so far.
Tesla stock has been under enormous pressure, with shares down nearly 40 percent since the start of the year. Musk’s net worth has dropped drastically as a result.
According to the Bloomberg Billionaires Index, Musk has a net worth of $193 billion as of May 25. That means Musk’s wealth has decreased by $77.6 billion since the beginning of this year.
However, Musk is still the richest person in the world by net worth, the report said. His closest rival, Amazon founder Jeff Bezos, is currently listed with a net worth of $128 billion.
Like Musk, Bezos’s net worth also reported a decline this year, with a decline of $64.6 billion.
Musk and his fellow billionaires have seen their net worth decrease this year.
The 50 richest people in the world, including Bill Gates and Mark Zuckerberg, have lost half a trillion dollars in total wealth since the start of the year.
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