From a personal net worth point of view, South Africa-born Elon Musk won’t look back on 2022 with much fondness, but… Image: AFP

Elon Musk and four other billionaires who lost the most money in 2022

Elon Musk lost a reported $125 billion in 2022. Shame.

by James Freemantle

05-01-2023 09:01

in Celeb News

From a personal net worth point of view, South Africa-born Elon Musk won’t look back on 2022 with much fondness, but… Image: AFP

Elon Musk and four other billionaires lost a collective $378 billion last year.

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Jeff Bezos was the first person to cross the $200 billion mark, in August 2020 according to Forbes.

By the end of 2021, the $100 billion club had grown to 10 members, none of them richer than Elon Musk, who was worth an estimated $272 billion–$72 billion more than runner-up Bernard Arnault of French Luxury conglomerate LVMH. Fast-forward to the present day and Frenchman Arnault sits at the top of the tree, and the amount of people whose value exceeds $100 billion now stands at seven. It’s an exclusive club that keeps on getting more exclusive.

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Elon Musk billionaires — Elon Musk and four other billionaires lost some serious cash in 2022. Photo by Frederic J. BROWN / AFP)

Elon Musk makes more money history

Musk is the first person ever to lose more than $100 billion in a single calendar year. He ended 2022 worth an estimated $147 billion–a record $125 billion drop from the end of 2021. According to Forbes, his fortune was down another $10 billion on Tuesday this week to $137 billion, $183 billion less than his $320 billion peak in November 2021.

“It’s been a year of chaos that’s self-inflicted [due to] the Twitter disaster,” says Wedbush analyst Dan Ives.

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