From December 31, 2023, to June 28, 2024, Elon Musk’s net worth dropped from $251.3 billion to $221.4 billion, making him the billionaire who lost the most money in the first half of 2024, according to Forbes. Despite a booming stock market, Musk’s wealth declined due to various challenges.
One major factor was a Delaware judge’s decision to halt his Tesla compensation package, which was valued at $51 billion. Although Tesla shareholders re-approved this package last month, the company is likely to face a lengthy and uncertain appeal process.
Musk’s 13% stake in Tesla also fell by about $20 billion as the company’s shares dropped 20% due to declining profits and car deliveries this year. This situation contrasts with other billionaires tracked by Forbes, as the collective net worth of the ten richest people rose from $1.47 trillion at the end of 2023 to $1.66 trillion at the end of June 2024.
In summary, Elon Musk’s net worth fell significantly in the first half of 2024 due to a combination of legal issues and a drop in Tesla’s stock value, making him the biggest billionaire loser so far this year.
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