Elon Musk is losing Rs 2500 crores every-day, massive erosion in Net Worth --All you want to know

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New Delhi: As the shares of Tesla are at their lowest in two years, Elon Musk, suffered losses to his net worth this year that exceeded $100 billion. After peaking at $340 billion a little more than a year ago, the billionaire's wealth has decreased the greatest, relative to everyone else on the Bloomberg wealth index.

Elon Musk, the richest man, lost approximately 2,500 crores each day in wealth between 2017 and 2022, or over 37 percent, or $101 billion, according to the Bloomberg Billionaires Index. As of today, November 22, 2022, he has $170 billion in net worth.

What is Bloomberg Billionaires Index?

The world's wealthiest persons are included each day in the Bloomberg Billionaires Index. Every trading day in New York comes to a close with an update of the numbers.

Due to a potential intermittent lighting issue, Tesla is recalling more than 321,000 vehicles in the US. The revelation comes after the firm recalled over 30,000 Model X vehicles on Friday in the US due to a problem that could cause the front passenger airbag to activate wrongly, sending its shares down nearly 3 percent to a nearly two-year low.

With the stock reversing all of its gains from the previous 17 months, Tesla has lost roughly half of its market value and has struggled for the majority of this year as a result of the broader risk-off market trend.

Tesla, a company that offers electric vehicles and residential solar batteries, is led by Elon Musk. Musk also holds the CEO chair of SpaceX, a rocket maker contracted by NASA to resupply the space station, and he owns stock in Twitter.