Elon Musk has been losing $270 million every single day, $100+ billion in a year

SpaceX and Tesla CEO Elon Musk has been and still is losing $270 million every day, with reports saying he's lost $100 billion in less than a year.

Elon Musk has been losing $270 million every single day, $100+ billion in a year
Published Oct 26, 2022 8:21 PM CDT   |   Updated Tue, Nov 15 2022 2:16 AM CST
1 minute & 33 seconds read time

Elon Musk has certainly had an eventful 2022 with the SpaceX and Tesla CEO announcing that he's interested in purchasing Twitter, entering into a deal, attempting to pull out of the deal, then seemingly now following through with it, releasing his own fragrance, and oh, losing $100 billion.

Forbes' Elon Musk net worth tracker

Forbes' Elon Musk net worth tracker

In fact, Musk has lost more than $100 billion over the course of a year, according to Forbes, his massive fortune has fallen by about 35% from its peak of $320.3 billion on November 4, 2021, to approximately $209.4 billion as of October 20, 2022. Notably, throughout just October, Musk's total wealth has reduced by $28 billion.

This massive reduction in Musk's wealth throughout 2022 can be attributed to many factors, such as looming concerns of a recession causing investors to hold onto their money, factory troubles related to COVID-19 shutdowns, and the Twitter fiasco that began in March. Musk has actually lost $110 billion in just 11.5 months, according to Forbes, which means that his total net worth has reduced by $301 million every day during that period.

Despite this massive drop in overall net worth, Musk still remains the richest individual on the planet, being a whopping $60 billion richer than LVMH chief Bernard Arnault and $71 billion richer than Amazon founder Jeff Bezos.

In other Elon Musk news, the SpaceX CEO recently postponed the Neuralink "show & tell" event while also receiving a clap-back letter from Twitter staff that includes a list of demands they wish him to commit to once he takes over the company.

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NEWS SOURCE:forbes.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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