Elon Musk has lost $132 billion in 2022 after Tesla's 68% crash
Elon Musk's most valuable asset is now his equity stake in SpaceX, which is worth an estimated $47 billion, according to Bloomberg.
According to Bloomberg Billionaires Index, Elon Musk's net worth has fallen to $132 billion due to Tesla stock's collapse. The stock's close to 10% sell-off on Tuesday will take $7 billion to $8 million off Musk's net wealth. This would make Musk's total wealth loss for the year to date at $140 billion. Luxury goods magnate Bernard Arnault is $20 billion more than Musk, and has reclaimed his position as the world’s richest person. Musk's net worth reached a peak of just over $300 billion in the earlier part of this year. However, a 68% decline in Tesla stock over the past year has erased much of that. This is due to more investors becoming concerned about Musk's commitment to running the electric car maker while simultaneously managing his other business ventures. Tesla shares have fallen 50% since Musk's $44 billion purchase of Twitter in October. This compares to a 3% drop for the Nasdaq 100. To fund his purchase of Twitter, Musk also sold billions in Tesla stock. According to Bloomberg, Musk's Tesla stake, which is valued at $40 billion, and his options in Tesla, are worth $28 billion. Bloomberg estimates that Twitter is the next most valuable asset Musk owns. It is valued at $20 billion, or about half of Musk's purchase price. Musk stated in October that "Obviously me and other investors are clearly overpaying Twitter right now." Bloomberg also assigned Musk's stake at The Boring Company a $3.3B value. According to S3, Tesla is 2022's most profitable short, with short sellers generating $15 billion in mark-to-market profits.