The self-proclaimed “free speech absolutist” became the new owner of the social media platform only a few months ago, but several changes made in the past four months have been criticized by the majority of users. Quickly losing prominence, Musk released a poll asking if he should step down as CEO, which he narrowly lost with a result of 57.5%.
In a report by Forbes, Musk’s personal fortune began to fall from November 2021, when Tesla Inc. – Elon Musk’s electric car distribution company – saw its stock plummet at an alarming rate, losing 65%. % of his worth in 2022 alone. His losses are currently estimated to be closer to $200 million, and his personal net worth has risen from $320 billion in 2021 to $138 billion in January 2023.
Elon Musk has lost $182 billion of personal wealth since 2021, the highest amount of anyone in history…https://t.co/PcQY7FGB1W
— Guinness World Records (@GWR) January 6, 2023
While his $138 billion net worth is not to be overlooked, Musk’s position as the world’s richest person is no longer a title he owns, as Bernard Arnault’s $190 billion the place in front of Musk. Arnault, born in France, is known for founding Louis Vuitton Moët Hennessy, the luxurious brand of designer handbags, handcrafted and sold at extremely high prices. Sure, Musk’s personal finances went down a bit after he bought Twitter in October 2022, but what wasn’t expected was a very volatile market that saw Tesla’s stock plummet, making losing Musk a staggering amount of wealth in just 14 months.
While blame can’t be placed solely on Musk’s behavior, his social media attitude has certainly tilted against him. Whether it’s new changes to Twitter’s verification system that contradict his beliefs in free speech or his continued posting of memes to poke fun at those who oppose him, Musk has certainly deserved it. some of the defiance he has acquired since buying the social media platform. While he may be on the ropes with his current losses, it won’t be surprising to see Musk bounce back at some point and climb the ranks of personal fortunes.