Elon Musk’s wealth has plummeted to $193 billion based on recent figures from Bloomberg’s Billionaire Index.
Bloomberg’s Billionaire Index, which tracks the affluence of the globe’s wealthiest individuals, marked a downward trajectory for Musk. Remarkably, this denotes the first instance since June that the net worth of Tesla’s CEO has fallen under the $200 billion threshold. With a 13% stake in Tesla, it’s evident that a vast portion of Musk’s riches is intertwined with the automaker’s performance.
Bloomberg’s data reveals that since the earnings announcement on October 18, Musk has forfeited a staggering $41 billion. Before Tesla’s less-than-impressive Q3 outcomes, his valuation was pegged at $234 billion. Yet, a different perspective is offered by Forbes, which evaluates Musk’s assets at a slightly elevated $213.8 billion.
Tesla’s Stocks and Musk’s Other Ventures
Beyond Tesla, Musk’s entrepreneurial prowess extends to the inception of SpaceX and the Boring Company. His financial interests in these ventures, too, play a pivotal role in his overall wealth calculation. Post the earnings disclosure, Tesla’s stock price suffered a 10% decline. As of the most recent data, Tesla’s shares wound up 4.8% lower at $197.36, which marks a 21% decrement this month. Contrarily, there has been a 60% upswing in the stock throughout this year.
Over time, the valuation of Musk’s assets has ridden a rollercoaster. Its zenith was at an eye-watering $340 billion in November 2021.
The Global Wealth Landscape
In the backdrop of Musk’s financial dynamics, Bernard Arnault, helming the luxury retail colossus LVMH Moet Hennessy Louis Vuitton, retains his position as the world’s second-wealthiest individual, boasting a net worth of $156 billion.
Though Arnault’s brand, LVMH, is synonymous with opulence, having an impressive portfolio of 75 brands, including Dom Perignon, Christian Dior, and Tiffany & Co., the 73-year-old magnate maintains a discreet presence. This is in stark contrast to the flamboyant billionaires of today, as he seldom make public appearances and is virtually absent from the world of social media. In a culture where ostentatious wealth display is often discouraged, Arnault epitomizes understated luxury.