He is now the richest person in the world with a gap of a little over $10 billion.
Elon Musk, who broke records of personal wealth last year as the stock of his electric vehicle company Tesla soared, now has another record to his name. With Tesla stock price continuing its decline in 2022, Musk's fortune has dropped by over $100 billion this year,Musk's worth is mainly tied to his stock holding in Tesla, which according to recent estimates, now stands at around 14 percent.
Part of the decline can be attributed to Tesla's reliance on China for producing its electric cars and components and the country's refusal to budge from its 'zero-COVID' policy. Even today, parts of China are in complete lockdown following a rise in cases, and supply chain issues arising from such actions are severely affecting Tesla's performance.
However, Musk's Twitter takeover and assuming the position of CEO have fuelled fears that the world's richest man is spreading himself too thin. With Twitter on his plate, Musk is now the CEO of five companies, which translates into lesser time spent at Tesla.On Monday, as Tesla stock hit $167.87, the company recorded its lowest price since November 2020 and sent Musk's fortunes down by $8.6 billion.
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