Elon Musk's Net Worth Has Plunged By $67 Billion This Year

Tesla and SpaceX CEO Elon Musk has seen his net worth slide by more than $60 billion since the start of the year, but he remains the world's richest person.

Musk's net worth, which is estimated to be $204 billion as of Monday, shrunk by $66.5 billion since the beginning of 2022, Bloomberg reported.

Aside from Musk, several of the richest billionaires in the world also suffered losses due to the tanking stock market. The net worth of the top 50 richest decreased by a combined $563 billion this year through May 22, according to the outlet.

Last week, Musk, who offered to buy Twitter for $44 billion, saw over $12 billion being wiped out of his net worth owing to a steep fall in Tesla's share prices as he tweeted that he was switching from Democrat to Republican and that ESG is a scam.

Meanwhile, Amazon founder Jeff Bezos has seen his net worth fall by $61 billion since the start of the year. As of Monday, he is estimated to be worth $131 billion, according to the Bloomberg Billionaires Index.

Bernard Arnault, chairman of LVMH Moët Hennessy Louis Vuitton, the world's largest luxury goods conglomerate, is another billionaire who had billions in net worth evaporate this year. The world’s third-richest man, who currently has a net worth of $126 billion, saw his wealth decline by $51.8 billion.

Larry Page's net worth also shrunk by $27 billion, putting the figure at $101 billion. His fellow Google co-founder Sergey Brin’s net worth plunged by $26.3 billion, leaving him with $97.2 billion.

Page ranked seventh richest, while Brin ranked eighth richest in the world on Bloomberg’s list.

Former Microsoft CEO Steve Ballmer lost $13.4 billion in net worth this year. His net worth now stands at $92.3 billion, making him the world's 10th richest person, according to the Index.

On the other hand, three billionaires in the top 10 richest saw their net worth rise this year, including Berkshire Hathaway CEO Warren Buffett, who is currently worth $112 billion.

Gautam Adani, the founder and chairman of the largest port operator in India, Adani Group, and Mukesh Ambani, the chairman of Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail, also saw increases in their wealth this year.

Adani gained $27.6 billion, with a current net worth of $104 billion. Ambani, who has a net worth of $95.2 billion, gained $5.2 billion this year, according to Bloomberg.