US: Elon Musk’s losses for 2022 topped US$100 billion as shares of Tesla Inc. dropped to the lowest level in two years.
The Tesla co-founder is still the world’s richest person with a fortune of US$169.8 billion, according to the Bloomberg Billionaires Index, even after seeing his net worth shrink by $8.6 billion on Monday.
He’s down US$US100.5 billion this year - the most of anyone on the wealth index - after peaking at US$340 billion a little more than a year ago.
The electric-car maker comprises the bulk of his fortune and is struggling with burgeoning Covid-related restrictions in China, its largest market outside of the US.
Musk, 51, has also been preoccupied with Twitter, the social-media network he acquired last month for US$44 billion. The company has lost about 60% of its work force since Musk took over, with the latest round of layoffs coming on Sunday. Investors have been questioning whether the billionaire is spreading himself too thin among his various high-profile ventures. - NDTV
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