World's richest man Elon Musk loses Rs 2.4 lakh crore in 2024's first half. This is his new net worth
2024 is proving to be a roller coaster ride for tech billionaire Elon Musk. After emerging victorious in his Tesla compensation battle, Musk has lost a lot of money amid stock market boom.
His net worth has taken a big hit in the first six months of the year, as per Forbes.?
Between December 31, 2023, and June 28, 2024, Elon Musk's wealth declined from $251.3 billion (Rs 20 lakh crore) to $221.4 billion (Rs 18 lakh crore), marking the largest decrease among all billionaires monitored by Forbes.
As per Forbes, Musk has lost more than Rs 2.4 lakh crore.
Elon Musk's fortune has been decreasing since a Delaware judge halted his Tesla compensation package, originally valued at $51 billion (Rs 4.1 lakh crore). Although Tesla shareholders recently reaffirmed the package, the company is expected to undergo a prolonged and uncertain appeal process regarding the decision.
Elon Musk's 13% ownership in Tesla saw a reduction of approximately $20 billion(Rs 1.6 lakh crore), corresponding to a 20% decline in the automaker's shares amidst lower profits and vehicle deliveries this year. In contrast, the collective net worth of the top ten Forbes billionaires increased from $1.47 trillion at the end of 2023 to $1.66 trillion by the end of June, highlighting a contrasting trend compared to Musk's situation.
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