Elon Musk became the first person to lose $200 billion, according to Bloomberg News, while Tesla lost $783 million on Bitcoin (BTC) volatility, 0.39% of Musk’s loss.
Musk’s personal fortune was $340 billion as of November 4, 2021, making him the richest man in the world. In December 2022, Musk’s fortune dropped to $137 billion and he was replaced by LVMH’s Bernhard Arnault.
Musk’s electric car company Tesla lost 65% of its value in 2022, while Musk sold a significant portion of his fortune to buy Twitter for $40 billion.
Tesla bought 43,200 BTC for $1.5 billion in February 2022. The amount equates to $716,368,320, with the current BTC price at around $16,597 at the time of writing. Tesla’s total loss from its BTC investment is $873,631,680, which is 0.39% of Musk’s $200 billion loss.
Journalist at CryptoSlate
Zeynep is an academic who turned to cryptography in 2018. Originally from the social sciences, she is particularly interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transformative power.
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