Elon Musk drops out of $200 billion club

Tesla and SpaceX CEO, Elon Musk dropped out of the $200 billion club losing more than $13 billion in just one day.

According to Bloomberg’s Billionaires Index, Musk’s wealth declined by $13.3 billion on Wednesday on Tesla shares continued losses slipping to their lowest since September 2021.

This came as most of stock markets all over the world suffered huge losses amid Russia’s military attack against Ukraine.

Based on Bloomberg’s Billionaires Index, Musk’s net worth dipped below $200 billion for the first time since September, at $198.6 billion.

The Tesla CEO’s fortune has seen almost $72 billion erased since beginning of 2022 so far.

However, Musk is still the world’s richest person outpacing Jeff Bezos by around $30 billion.

Last November, Musk’s wealth reached an all-time high of $340 billion because of Tesla’s shares skyrocketing.