Elon Musk Will Wait Longer To Become World’s First Trillion-Dollar Man After $20Bn Setback, Not the First Time
- Elon Musk's net worth was back above the $250 billion mark and on course to become the first trillion-dollar man alive
- This happened as his company's Tesla which he owns about a 13 percent stake shares surged by over 100 percent
- However, there was a setback as the Tesla stock, which his personal wealth is directly tied to, reversed its gains the following trading day
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World's richest man, Elon Musk was once again on track to become the world's first trillion-dollar man before another setback.
According to the Bloomberg Billionaires Index, Elon Musk's net worth rose to a mouth-watering $255 billion on Wednesday, July 19, 2023 as Tesla shares surged 136% year-to-date.
Source: UGC
However, the joy was quickly cut short as Elon Musk watched a massive $20 billion (about N15.52 trillion) wiped off his wealth in one day.
Legit.ng reported that Musk's wealth on Thursday plummeted to $234 billion but he still maintained a good distance from LVMH owner Bernard Arnault, who had a net worth of $201 billion
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Musk's wealth losses history
This is not the first time that Musk's personal wealth has increased astronomically and then nose-dived.
In November 2021, when Tesla shares hit an all-time high, his net worth was estimated at $340 billion.
Just eight months later, it fell to $125 billion, which saw the businessman go down in the Guinness World Records for the largest amount of money lost (between $180-200 billion) in a year.
Dangote reclaims Africa's richest man on Forbes, earns N613 billion in one day
Meanwhile, in a similar report, Legit.ng revealed that Aliko Dangote has reclaimed his title on Forbes as Africa's richest man, ousting South Africa's Johann Rupert from the position he held for two weeks.
Dangote held the position for 12 consecutive years before Rupert briefly overtook him in early July as Nigeria devalued its currency, affecting the shares of Dangote Cement, his primary source of wealth.
On Tuesday, July 11, 2023, Forbes Index disclosed that Dangote remains Africa's richest man for the 12th consecutive year.
Source: Legit.ng
