Deals News Hubb
Advertisement Banner
  • Home
  • Business Deals
  • Shopping Deals
  • Contact
No Result
View All Result
  • Home
  • Business Deals
  • Shopping Deals
  • Contact
No Result
View All Result
Gourmet News Hubb
No Result
View All Result
Home Business Deals

Elon Musk lost $123 billion this year as Tesla’s shares tanked. But he still has a lot of money left

admin by admin
December 21, 2022
in Business Deals



Elon Musk’s fortune continues to take a beating a week after he lost his spot as the world’s richest person.

His net worth tumbled $7.7 billion on Tuesday after Tesla shares had their steepest one-day loss since October.

The selloff adds to the woes of Musk, who lost his status as the world’s richest person to luxury tycoon Bernard Arnault on Dec. 13. Musk’s losses for the year now total $122.6 billion, exceeding the amount he gained in 2021 when his fortune soared to rank among the biggest in history. The Tesla chief executive officer’s net worth is now $147.7 billion, the lowest in more than two years, according to the Bloomberg Billionaires Index.

Musk’s fortune is primarily comprised of Tesla stock and options. The automaker’s spiraling shares pose a particular risk for Musk, 51, who leveraged more of his position to finance his acquisition of Twitter in October. 

Tesla shareholders have expressed increasing alarm over Musk’s preoccupation with Twitter, which he’s attempting to lead through a messy and public turnaround. He posted a poll on Twitter asking users to vote whether he should step down as head of the social platform. Almost 58% of the 17.5 million respondents said he should.

Our new weekly Impact Report newsletter examines how ESG news and trends are shaping the roles and responsibilities of today’s executives. Subscribe here.



Source link

Previous Post

IAMGOLD stock shines after unloading (NYSE:IAG)

Next Post

Steak ‘n Shake: Free milkshake when you sign up!

Next Post

Steak 'n Shake: Free milkshake when you sign up!

Recommended

PICTURES: Buenos Aires outskirts are full of strange outsider art

6 months ago

Home Depot Presidents Day Sale: Shop These 5 Deals

4 months ago

Under Armour Men’s Short Sleeve Tees only $11 each, shipped (Reg. $25!)

5 days ago

Does IKEA Deliver? Here’s How It ALL Works Plus Some Hacks

13 hours ago

FREE Life Skills Online Summer Camp for Kids!

2 weeks ago

Best Black Friday KitchenAid Mixer Deals

7 months ago
Deals-(-White-)

© Deals News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Business Deals
  • Shopping Deals
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Business Deals
  • Shopping Deals
  • Contact

© 2022 Deals News Hubb All rights reserved.