Elon Musk has now become the first person in history to lose $200 billion from his net worth after shares of Tesla dropped. The billionaire’s net worth slipped to $137 billion with the plunging share value including an 11% drop on Tuesday.
The 51-year-old CEO’s net worth was at its peak of $340 billion on November 04, 2021, when he also ranked at the top among the world’s richest, according to Bloomberg Billionaires Index. Later, he was overtaken by Louis Vuitton’s Bernard Arnault.
Musk now holds the distinction of being the only billionaire to lose $200 billion from net worth after being the second person ever to accumulate a personal fortune of over $200 billion. He crossed the threshold of $200 billion in January 2021, months after Jeff Bezos.
Musk acquired Twitter in October 2021 for $44 billion. Since he secured control over the social media company, he has taken several controversial decisions that led to criticism among users and disagreements among employees.
“Hope you’re having a great day 1 2023! One thing’s for sure, it won’t be boring,” Musk wrote in a Tweet on Sunday.
Responding to the Twitter CEO, “You worked hard this year and lost over 200 billion. I believe that this year you will surpass yourself with even worse decisions,” wrote Brianna Wu, Executive Director of Rebellion PAC.
In response to Wu’s comment, Musk tried to balance in a sarcastic manner, expressing gratitude to the Twitter user for subscribing to Twitter Blue. He wrote, “Thanks for paying me $8,” as Wu has a Twitter verified account.
Wu launched another scathing attack on him referring to Tesla’s Full Self-Driving (FSD) capability which proved more trouble than it’s worth. She replied, “No problem, buddy. I’ve got another $8. I can spot you for the legal fees when the inevitable lawsuits come over failed FSD. You just let me know.”
Some Twitter users joked about the calculations to recover the $200 billion loss. Musk would need another 25 million subscriptions to Twitter’s $8 verifications badge.