Elon Musk's fortune has fallen by $110 billion, but he's still the world's richest person
Tesla has fallen 46% since January and closed on Friday at $214, valuing the company at $672 billion. It hit the trillion dollar mark in October last year.maker earlier this year, Musk now holds 155 million Tesla shares, or a stake of just under 15%.
The Tesla and SpaceX CEO's fortune has fallen by 35% in less than a year and is down by $28 billion this month alone, but he remains the world's richest person. Despite his wealth taking a hit, Musk is $80 billion better off than Bill Gates and $71 billion ahead of Jeff Bezos. Last year he sold $31 billion worth of stock in Tesla to help pay for his $44 billion Twitter takeover. Forbes included the $31 billion in his net worth, excluding taxes, as the deal has not yet completed.
After he announced his plan to buy Twitter in April, Tesla shares hit the skids. His wealth shrunk from $302 billion in April to $216 billion in June, but recovered to $279 billion in August.Musk has arranged $12.5 billion in loans but still needs billions more to complete it. He is seeking help from investors and may need to sell Tesla shares worth between $5 billion to $10 billion next week. this week, with sales of $21.5 billion, shy of analyst forecasts of $22.1 billion.
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