Elon Musk loses $200 billion; read to know how!

Twitter's new head Elon Musk has lost nearly $200 billion. Bloomberg reported that he had become the 1st person to lose a vast amount. Elon Musk was the 2nd person after Jeff Bezos with over $200 billion of personal fortune.

Interestingly, Musk rose to the top spot of billionaires in January 2021. The fall in Tesla shares contributed to the plummeting of Musk's wealth.

According to a Bloomberg report, Musk's stock peaked at $340 billion in November 2021. However, since then, he has seen no gains. Musk's net worth was previously $338 billion. It has now been reduced to $132 billion.

"Don't worry too much about the madness of the stock market. As we demonstrate continued excellent performance, the market will recognize it," Musk said, quoted by Reuters.

Twitter's future has been endangered since Musk took over the company. First, he fired top executives-CEO Parag Agrawal, CFO New Segal, and policy chief Vijaya Gadde. After this, Tesla's CEO also laid off almost 50%of the workforce.

In other news, Musk is set to step down as CEO of Tesla and Twitter. He has reportedly found a new CEO for Tesla but is still looking for a new CEO for Twitter.