ELON MUSK LOSES $200 BILLION IN A YEAR | ISN’T IT INSANE?

Описание: ELON MUSK LOSES $200 BILLION IN A YEAR | ISN’T IT INSANE?

Elon Musk makes history yet again, this time by losing a record amount of money- a whopping $200 billion. In this video, we will discuss how the titular tech billionaire got the unenviable title of losing the most amount of money in a year.

The founder of Tesla and SpaceX, among other companies, lost a net worth of about $200 billion in his personal fortune. He lost this amount of money in the last 14 months, according to the Bloomberg’s Billionaire’s Index. Remember we are talking about $200 billion here, which is more than some countries foreign reserves at this point. This is the amount of money which, let's face it, most of us would never see in their entire life.

But was it always so bad? Elon Musk rose to become the most rich person on earth in November 2021 when the stock market raised his fortunes to an amazing $340 billion. Tesla’s shares really took off and Elon rode the high financial tide to become the richest person to walk on the earth. However, things are looking quite different for Elon Musk, whose total value now stands at about $137 billion. This means that he has lost more than half of his wealth during this year.

Musk’s troubles largely come from issues which Tesla is facing right now. Other major car companies are also quickly catching up to the technology which is only adding pressure on Tesla. To gauge how much his company suffered, Tesla’s stocks dropped about 65 percent in value this past year alone. The financial situation is so challenging that Tesla is currently offering a discount of $7,500 for any US customer who would book two of its models before the end of year. That steep discount is truly unprecedented especially for a company the size of Tesla. The fall from grace for Tesla has been monumental- from a market capitalization value which exceeded $1 trillion in October 2021 to $385 billion currently. This past December alone, the value plunged below half the trillion mark for the first time since November 2020.

How did Elon Musk respond? Elon Musk tried to shake the negative uncertainty surrounding Tesla by taking to Twitter, which he owns by the way, in December. He defended his company’s poor financial performance in the stock market by arguing that if we read back into the Securities Analysis basics we will understand that as the saving account interest rates climb, people start to liquidate their stock shares. This transfer from stock shares into cash causes the stock values to drop tremendously. While Elon’s financial analysis makes a lot of sense, there are other reasons for why his fortunes took such a huge hit.