Elon Musk Net Worth: The stock market in the first half of the ongoing year is on upward momentum. It is breaching new heights. However, 2024 has been a year of ups and downs for tech billionaire Elon Musk.
Elon Musk’s Net Worth Declines
After winning a major battle over his Tesla compensation, Musk has seen a significant drop in his net worth, even as the stock market has soared.
Elon Musk Net Worth At Present
According to Forbes, Musk’s wealth fell from $251.3 billion at the end of 2023 to $221.4 billion by June 28, 2024.
Why There Is A Decrease In Elon Musk’s Net Worth?
This $30 billion decrease is largely due to a $20 billion drop in the value of his 13 percent stake in Tesla. The electric car company’s stock has fallen by 20 percent this year because of declining profits and lower vehicle deliveries.
Musk’s financial troubles began when a Delaware judge stopped his Tesla compensation package, which was originally worth $51 billion. Although Tesla shareholders recently supported the package again, the company now faces a long and uncertain appeal process.