Musk is the biggest ‘loser’ in 2022

India

lekhaka-Deepak Tiwari

The
maverick
billionaire,
who
tends
to
be
always
in
news
for
his
tweets
and
‘revolutionary’ ideas,
lost
the
most
in
terms
of
percentage
as
well
as
the
absolute
numbers.

New
Delhi,
Jan
10:
The
year
2022
is
gone
and
so
has
gone
a
lot
of
wealth
of
Elon
Musk.
However,
he
is
still
among
the
top
richest
people
on
earth.
Needless
to
say,
there
are
a
few
other
billionaires
like
Musk
who
lost
a
huge
chunk
of
their
fortune
in
the
year
gone.
For
instance,
Amazon’s
Jeff
Bezos
lost
$85
billion
as
Amazon’s
fell
by
50%.

Similarly,
Mark
Zuckerberg’s
wealth
dropped
by
$77
billion
as
shares
of
Facebook
fell
more
than
64%.
Larry
Page
and
Sergey
Brin
of
Google
were
also
not
spared
from
the
fall
as
their
wealth
fell
by
nearly
$45
billion
apiece.
However,
there
is
another
side
to
their
story
and
that
is
that
they
also
accumulated
a
lot
of
wealth
even
during
the
global
pandemic.

Musk
lost
the
most

A
maverick
billionaire
who
tends
to
be
always
in
news
for
his
tweets
and
revolutionary
ideas,
Musk
lost
the
most
in
terms
of
percentage
as
well
as
the
absolute
numbers.
He
has
also
made
a
record
of
sorts
as
he
is
the
only
person
on
the
earth
who
lost
more
than
$100
billion
in
a
year.
Yes,
he
is
indeed
a
record
maker,
first
to
become
the
richest
man
on
earth
and
then
lose
most
of
it
in
just
a
matter
of
a
year.

Musk
facing
financial
difficulty
managing
Twitter

The
year
2022
though
started
with
a
lot
of
hope
for
Musk
but
ended
in
bad
shape
as
he
lost
more
than
$125
billion.
He
was
at
$272
billion
at
the
beginning
of
the
year;
however,
at
the
end
of
year
his
wealth
declined
to
$147
billion.
There
has
been
a
massive
decline
in
his
company
Tesla’s
shares
that
fell
more
than
65%.

Most
of
the
fall
in
Tesla
shares
according
to
the
stock
market
experts
is
due
to
the
fact
that
Musk
himself
offloaded
the
shares
in
bulk.
There
was
an
urgency
to
sell
Tesla
shares
from
Musk
as
he
had
to
pay
most
of
the
money
out
of
the
$44-billion
Twitter
deal.
The
selling
from
Musk
could
not
be
absorbed
by
the
buyers
and
the
stock
fell
more
than
expected.

Musk
may
have
lost
the
most
among
the
billionaires;
however,
with
the
latest
addition
of
Twitter
in
his
kitty
of
the
companies,
he
has
become
the
most
influential
person
on
the
earth.
Twitter
being
a
giant
social
media
platform
gives
him
superman
powers,
especially
when
it
is
owned
completely
by
him
after
the
delisting.

Story first published: Tuesday, January 10, 2023, 17:54 [IST]