Amid Sexual Misconduct Allegations, Elon Musk's Net Worth Drops Below $200 Billion

The world¡¯s richest man, Elon Musk has seen a massive drop in his net worth, going below $200 billion right after his electric car company¡¯s shares hit 11-month lows.

Reuters

Reported first by IANS, Tesla shares have been suffering for quite some time now, dropping as much as 40 percent since January.

This ordeal has made Musk lose around $77.6 billion of his net worth this year to date.

The Bloomberg¡¯s Billionaire Index had reported his net worth stooped down to $193 billion. However, at the time of writing this, this value had somewhat raised to $212 billion.

Musk saw a massive slash in its value -- around $10 billion a few days ago when reports surfaced of a settlement over alleged sexual misconduct. In the last few days, the shares actually lost as much as 10.8 percent of their value, however as the market closed it ended up at 6.4 percent, or around $10 billion.

Reuters

Despite this massive hit, his status as the world¡¯s richest man remains unchanged, with Amazon¡¯s Bezos coming a close second at $135 billion, losing around $64.6 billion this year.

The slashing of net worth has also been observed across other multibillionaires too, including Microsoft co-founder Bill Gates as well as Meta CEO and co-founder Mark Zuckerberg, who have collectively lost around half a trillion dollars in wealth since the year began.

For more in the world of technology and science, keep reading Indiatimes.com.