Tesla and Twitter CEO Elon Musk has emerged as the highest loser amongst American Billionaires in 2022 according to Forbes.
Reports disclose that Musk has reportedly lost more than $130 billion from his net worth in 2022 as Tesla shares continue to fall, which his wealth is mostly tied to.
Meanwhile, globally, the world’s billionaires lost nearly $2 trillion combined in 2022, while in the United States, billionaires lost a total of $660 billion collectively.
Musk’s net worth peaked at over $300 billion earlier this year, unfortunately, a 68% year-to-date decline in Tesla stock erased a huge chunk of that.
This saw him displaced from the number one position of the richest man in the world, overtaken by LVMH chairman and CEO Bernard Arnault.
Arnault through holding vehicles and family trusts owns a little over 60% of LVMH’s voting share class, which according to Forbes estimates his worth to $186.2 billion.