Tech billionaire Elon Musk’s net worth has fallen below $200 billion after Tesla shares recently hit 11-month lows.
According to Teslarati, Musk has lost around $77.6 billion of his net worth since the start of the year.
Tesla shares have come under immense pressure lately, with shares falling about 40% year-to-date. Musk’s net worth has therefore suffered a major blow.
According to the Bloomberg Billionaires Index, Musk’s net worth was $193 billion as of May 25. That means Musk had seen $77.6 billion of his wealth cut since the start of the year.
However, Musk is still the richest person in the world by net worth. His closest rival, Amazon founder Jeff Bezos, is currently listed with a net worth of $128 billion, according to the report.
Similar to Musk, Bezos’ net worth also took a hit this year, dropping $64.6 billion.
Musk and his fellow multi-billionaires have seen their net worth decline this year.
Overall, the 50 richest people in the world, including Bill Gates and Mark Zuckerberg, have lost a total of half a trillion dollars in wealth since the start of the year.
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