Elon Musk, the founder of Tesla and SpaceX, has seen his fortune take a significant hit in 2021. According to a report, Musk has lost between $180 billion and $200 billion since November 2021, largely due to the poor performance of Tesla stocks in recent years.
At the start of 2021, Musk’s fortune was estimated to be around $320 billion. However, since then, Tesla’s stock has been on a downward trend, and Musk’s wealth has plummeted to its current level of around $147 billion. This means that Musk has lost more than half of his fortune in the past year.
The drop in Tesla’s stock price is largely due to the company’s inability to meet its production targets and its struggles to keep up with the demand for its electric vehicles. Tesla’s stock price has dropped from its peak of around $900 in January 2021 to its current level of around $600.
The drop in Tesla’s stock price has had a significant impact on Musk’s wealth. He has seen his stake in the company decrease from around 20% to around 16%. This has resulted in a significant loss of wealth for Musk.
The drop in Tesla’s stock price has also had a negative impact on other companies that Musk is involved with. His stake in SpaceX has also decreased, resulting in a loss of wealth for Musk.
The drop in Tesla’s stock price has also had a negative impact on Musk’s other investments. His investments in other companies, such as SolarCity and Hyperloop, have also seen a significant decrease in value.
Overall, Musk has lost between $180 billion and $200 billion since November 2021, largely due to the poor performance of Tesla stocks in recent years. His fortune has gone from about $320 billion in 2021 to its current level of about $147 billion. This means that Musk has lost more than half of his fortune in the past year.