Did Elon Musk just become the first person in history to lose $200bn?

Elon Musk's finances have been in a bit of a slump since the 51-year-old billionaire purchased Twitter in October.

Musk, once the world's richest man, has set several precedents in terms of wealth, and according to Bloomberghe might just have set a very unwanted one.

The financial news outlet reported on Friday that a drop in Tesla's stock value may have contributed to a staggering loss in Musk's net worth.

A staggering $200 billion loss.

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Tesla's stock value has declined 65 per cent this year due to inflation, Covid, and a lack of interest in purchasing electric vehicles. Last Tuesday the stock dropped 11 per cent.

Looking at Musk's fortune, Bloomberg reported his net worth was worth $340 billion last November.

Now, it's $137 billion. Earlier this month, Bernard Arnault, co-founder and CEO of LVMH surpassed Musk as the richest person in the world.

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With over 13 per cent of Tesla shares, some have attributed the drop in Musk's net worth to the drop in Tesla stock value.

But there may be more to blame than just extenuating circumstances for Tesla's drop in stock value.

Some believe shareholders and investors are scaling back on Tesla because of Musk's recent devotion to Twitter. With his attention turned away from Tesla, where Musk serves as CEO, there is growing fear Tesla will wreak the consequences.

Although Musk has stepped down as CEO of Twitter, he is determined to make the social media company more profitable than before.

This means he's spending a lot of time at Twitter focusing on the company and ways to help increase its profit.

Additionally, in order to pay for his $44 billion purchase, Musk sold over $19 billion worth of his Tesla shares.

Hopefully this year will bring Musk larger profits for Tesla and Twitter.

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