Elon Musk becomes the first person in history to lose $200 billion.

Elon Musk, the head of Twitter, lost his position as the wealthiest man in the world after becoming the first person in history to lose $200 billion off his net worth.

After Jeff Bezos of Amazon, Musk ranked second on the Bloomberg Billionaire Index in terms of personal wealth with over $200 billion.

Musk’s fortune is said to have decreased to $137 billion as a result of the recent slide in Tesla shares, which included a significant 11% drop on December 27.

Before the end of the year, Tesla is now providing customers in the US with a $7,500 discount on its two most popular models.

Recall that in November 2021, Musk’s net worth exceeded $340 billion, making him the wealthiest man in the world for more than a year straight.

The co-founder of luxury goods giant LVMH and French business billionaire Bernard Arnault succeeded the previous owner of Twitter in December 2022.