Elon Musk Lost The Title Of World’s Richest Man, But Not For Long – SlashGear

The past two years have been a roller coaster ride for Elon Musk, who has seen his fortune rise in the period. Less than three years ago, in March 2020, Musk was worth just $24.6 billion — nearly $90 billion less than Jeff Bezos — who had already breached the $100 billion mark. By August 2020, Bezos zoomed past the $200 billion figure.

Elon Musk’s jump in wealth was even more dramatic. From $24.6 billion in March 2020, Musk’s wealth skyrocketed to breach the $100 billion mark in September 2020. Thanks to Tesla’s rallying stocks, he overtook Jeff Bezos a year later — even breaching the $300 billion mark in November 2021. Despite these incredible gains last year, 2022 has been a year of massive losses for Musk. 2022 also became the year in which Musk paid $44 billion to complete the controversial acquisition of Twitter.

Twitter has lost close to half its value since Musk first announced his intention to buy the platform. Forbes claims that a significant reason for a downward trend in Tesla’s shares was Musk’s decision to sell more than $19.3 billion worth of Tesla shares to finance the acquisition of Twitter. Nevertheless, it will be interesting to see how the battle for the title of the world’s richest man between Musk and Arnault pans out in the next few weeks.