Elon Musk's net worth drops below $200 bn

According to Teslarati, Musk has lost about $77.6 billion of his net worth year-to-date. Tesla stock has been under immense pressure as of late, with shares dropping about 40 per cent since the start of the year. Musk's net worth has taken a substantial hit as a result. As per the Bloomberg Billionaires Index, Musk's net worth stands at $193 billion, as of May 25. This means that Musk had seen $77.6 billion of his wealth sheared off since the start of the year.

Tech billionaire Elon Musk's net worth has dropped below $200 billion after Tesla shares recently hit 11-month lows.

According to Teslarati, Musk has lost about $77.6 billion of his net worth year-to-date.

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Tesla stock has been under immense pressure as of late, with shares dropping about 40 per cent since the start of the year. Musk's net worth has taken a substantial hit as a result.

As per the Bloomberg Billionaires Index, Musk's net worth stands at $193 billion, as of May 25. This means that Musk had seen $77.6 billion of his wealth sheared off since the start of the year.

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Musk is still the world's richest person by net worth, however. His closest rival, Amazon founder Jeff Bezos, is currently listed with a net worth of $128 billion, the report said.

Similar to Musk, Bezos' net worth has also taken a significant hit this year, dropping by $64.6 billion.

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Musk and his fellow multibillionaires have seen their net worths shrink this year.

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Overall, the world's 50 wealthiest people, which include Bill Gates and Mark Zuckerberg, have lost an aggregate of half a trillion dollars in wealth since the beginning of the year.

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