Elon Musk has lost more money in 2022 than Zimbabwe, Botswana make in a year

Elon Musk’s fortune plummeted by $37.6 billion (R626 billion) this year, almost as much as the combined GDPs of  Zimbabwe and Botswana.

But, even after that, Musk still holds the title of the world’s richest man.

GDP refers to the total market value of all goods and services produced in a country in a given year.

In the 2020 financial year, Zimbabwe’s GDP amounted to  $21,03 billion and Botswana at just $15,9 billion.

According to Bloomberg’s Billionaires Index, Musk’s fortune grew to $24.6 billion (R410 billion) by 2020, and by July 2022, it had amassed to $233 billion (R3.9 trillion).

But, his fortune took a knock from approximately $270.6 billion (R4.5 trillion) at the start of 2022.

My Broadband reports that a fair proportion of his losses can be attributed to a decline in Tesla’s share prices since January 2022.

“At the start of the year, Tesla shares — of which Musk owns around 175 million — were valued at $1,199.78 (R19,985), and they have since dropped about 33% to $797.56 (R13,285),” said the report.

Musk lost R197 billion in May, after his posts on Twitter caused Tesla’s shares to plummet to the sub-$700 level.

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Musk’s failed Twitter quest

In April this year, Musk announced that he wanted to buy Twitter for $44 billion (R743 billion) or $54.20 (R915) per share.

His plans for the social media site included making the platform private through a buyout bid. 

The Tesla CEO promised to make the platform a ‘bastion of free speech’ while dropping other hints about the other financial changes he’d make as the owner.

But, if his Twitter page is anything to go by, this loss doesn’t appear to have phased the mogul.

Musk has promised to share another Vikings-inspired hairdo in future posts.

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