Elon Musk's net worth dropped by billions of dollars this week – dropping to $193 billion, according to Bloomberg's Billionaire Index. This is the first time since June that the Tesla CEO saw his net worth dip below $200 billion. But after Tesla reported low quarterly earnings, Musk – who owns about 13% of the car company – took a hit.Bloomberg estimates Musk has lost $41 billion since Tesla's Oct. 18 earnings call.
Some estimate he lost up to $200 billion, Guinness said at the time.The 2022 dip was also attributed to poor performance of Tesla stock, which plummeted 65% in 2022, according to Guinness.Musk's acquisition of Twitter also cost him a pretty penny. He sold nearly 8 million Tesla shares – worth $7 billion – in August 2022 as a legal battle with Twitter loomed. After Musk tried to back out, Twitter sued him to enforce the rules of their acquisition agreement and countersued.