Elon Musk Lost Rs 3.3 Lakh Crore: Musk Lost a Record-Breaking Rs 3.3 Lakh Crore As a Result of China

Elon Musk Lost Rs 3.3 Lakh Crore: The stock of Tesla is continuously declining as a result of declining sales in China. Elon Musk net worth decreased by Rs 3.3 lakh crore this year as a result.

Elon Musk Lost Rs 3.3 Lakh Crore
Elon Musk Lost Rs 3.3 Lakh Crore

Elon Musk Lost Rs 3.3 Lakh Crore

As to the Bloomberg Billionaires Index, Elon Musk is no longer the wealthiest person in the world. The CEO of Tesla has actually seen a decline in his net worth of over 40 billion dollars (3.3 lakh crore rupees) this year. Musk now supports Bernard Arnault of Louis Vuitton and Jeff Bezos, the founder of Amazon.com. The falling value of Tesla’s stock is the primary cause of Musk’s net worth reduction. which has dropped by 50% from the peak of 2021 and by 29% in the current year. Musk’s 21 percent ownership in Tesla accounts for the majority of his net wealth.

In 70 days, Rs 3.3 Lakh Crore Was Gone

The previous seventy-one days have seen a 40 billion dollar (3.3 lakh crore rupee) decline in the net worth of Elon Musk, the third wealthiest man in the world. With his current net worth of 189 billion dollars, he is very wealthy. The net worth of this person decreased by $2.37 billion on Friday. As of November of 2021, Elon Musk’s net worth was at $340 billion.

Loss Brought on By these Factors

In actuality, Tesla sales have significantly decreased in China. However, due to vandalism at its facility in Berlin, production has been suspended. As a result, the company’s pricing have been greatly impacted. Musk has also suffered a significant setback concurrently with the court’s decision to revoke his 55 billion dollar compensation plan. Next week, social network X is going to release a TV app for customers of Amazon and Samsung, after Musk’s announcement, according to Fortune magazine, that long-form movies will soon be accessible on smart TVs.

Additionally, Musk is Bringing this Facility

What Is. In a succinct reply to a user’s post on X, Musk said that long-form movies on the platform may be seen directly on smart TVs. X is teaming up with former CNN anchor Don Lemon and Fox pundit Tucker Carlson in an attempt to establish itself as a “video-first platform”.

Read more: Divis Lab Success Story: Read the Whole Story Of The 12th Failing Student Who Founded a Rs 1 lakh Crore Firm

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