Twitter CEO Elon Musk Becomes First Person Ever to Lose $200 Billion

January 3, 2023

Twitter CEO Elon Musk Becomes First Person Ever to Lose $200 Billion: Elon Musk, CEO of Tesla and Twitter, became the first person to have $200 billion removed from his net worth. Elon Musk has seen a drop of up to $137 billion in his wealth after a recent drop in Tesla Shares. The shares of his electric car company are down nearly 65 percent. With a net worth of more than $185 billion, Elon Musk overtook the record for the richest person in the world for the first time in January 2021.

However, he was replaced by Bernard Arnault, the chief executive of luxury brand Louis Vuitton’s parent company LVMH as the world’s richest man.

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Twitter CEO Elon Musk Becomes First Person Ever to Lose $200 Billion- Key Points

Elon Musk has applied a move-fast-and-break-things approach such as firing staff then asking them to come back and applying content policies haphazardly to justify banning the accounts of some prominent journalists who cover him.
After a decline in Tesla stock prices of up to 65% in 2022 and the massive $44 billion purchase of Twitter, there are no significant assets left.
Following these reports, Tesla has also announced a price drop in several of its model, offering a $7,500 discount for its Model 3 and Model Y vehicles.
However, Musk has dismissed concerns about Tesla and has repeatedly taken to Twitter to criticize the Federal Reserve for raising interest rates at the fastest pace in a generation.
Elon Musk founded SpaceX, Telsa, Inc., and is the founder, CEO, and chief engineer of Twitter.