Elon Musk has lost the "trillionaire" title: his wealth has fallen to $957 billion
[97220] Elon Musk has lost the "trillionaire" title: his wealth has fallen to $957 billion
Less than two weeks after becoming the first person in history to cross the trillion-dollar mark, Elon Musk's wealth has plummeted due to fluctuations in the stock market.
Elon Musk out of the trillionaire club
According to reports by РИА Новости and the news agency ТАСС, the wealth of billionaire Elon Musk has fallen below the trillion-dollar mark, and now stands at approximately $957 billion. The data is based on the "Bloomberg Billionaires Index," which calculates wealth based on the stock value of companies he owns.
Musk, who became on June 12 the "first person in history" to cross the trillion-dollar mark following the IPO of SpaceX on the stock exchange, managed to hold the title for less than two weeks, note the Москва 24. According to the report, the businessman's wealth recorded a drop of about $118 billion recently.
In another report by РИА Новости: США it is explained that the Bloomberg index weighs share value and financial indicators such as the market capitalization-to-EBITDA ratio or earnings per share. It is important to note that the Russian sources that covered the subject (TASS, РИА Новости) tend to adopt a consistent line of criticism toward the West, where in the case of TASS, a demonstrably negative position toward the USA is evident, while other channels remained more focused on the economic aspects of the news.