Elon Musk’s 2022 Wealth Loss Tops $100 Billion for First Time

Elon Musk’s losses for 2022 topped $100 billion as shares of Tesla Inc. dropped to the lowest level in two years.

The Tesla co-founder is still the world’s richest person with a fortune of $169.8 billion, according to the Bloomberg Billionaires Index, even after seeing his net worth shrink by $8.6 billion on Monday. He’s down $100.5 billion this year — the most of anyone on the wealth index — after peaking at $340 billion a little more than a year ago.

The electric-car maker comprises the bulk of his fortune and is struggling with burgeoning Covid-related restrictions in China, its largest market outside of the US. The Austin, Texas-based firm recently announced a recall of more than 300,000 cars due to faulty taillights, while also dealing with supply-chain snarls and soaring raw material costs.

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