New York: Elon Musk’s net worth has tanked by almost $40 billion this year, according to Bloomberg Billionaire’s Index. The Tesla chief executive and X (formerly Twitter) owner is now worth $189 billion.
He is currently in third spot, behind Louis Vuitton boss Bernard Arnault and Amazon’s Jeff Bezos. Earlier this week, Bezos had overtaken Elon Musk, but he was later replaced by Arnault. While the Louis Vuitton chief is worth $197 billion, Bezos is worth $196 billion. The decline in Musk’s wealth is due to Tesla’s falling share price, which is down by 29 per cent this year so far, Business Insider reported. A majority of Musk’s wealth comes from his 21 per cent stake in Tesla.
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