The Strategist

Musk's fortune drops below $200bn over Twitter deal

11/09/2022 - 09:23

Since Elon Musk declared his plan to acquire Twitter in mid-April, the billionaire's net worth has decreased to below $200 billion, falling by $74 billion, writes US Forbes.

CC BY-NC 3.0
CC BY-NC 3.0
On Tuesday, November 8, when Tesla shares hit a 52-week low, Elon Musk, the richest man in the world, saw his net worth drop to approximately $195.6 billion.

Since Musk's attempt to acquire the social network in response to investor concerns, the Twitter transaction has had a significant impact on Tesla stock prices.

According to US Forbes, the billionaire's wealth has decreased by $74 billion counting from the day before the Twitter takeover was disclosed.