Elon Musk Lost Nearly Twice Total Value Of BMW So Far In 2022


Tesla stock closed the week in the red, which has seen Elon Musk posting record daily losses of $11.3 billion, raising questions on whether owning the stock is worth it.

Elon Musk, the richest person in the world, has a net worth of $198 billion.

The 51-year-old billionaire, who was born in South Africa, has seen his fortune this year alone decline by around $72.5 billion nearly twice the market value of BMW ($47 billion).

With $198 billion in net wealth, he could purchase 2.16 billion barrels of crude oil or 120 million troy ounces of gold. According to a regulatory filing from August 2022, Musk owns around 15% of Tesla.

Elon Musk Lost Nearly Twice Total Value Of BMW So Far In 2022

In what turned out to be a generally bad trading session for the stock market, shares of Tesla fell significantly on Friday to close at $204.99 under intense selling pressure.

The decline in the stock ended a two-day gaining streak. Tesla Inc. is currently trading below its November 4th 52-week high ($414.50).

When compared to some of its competitors, the stock underperformed. General Motors Co. GM, +0.40% increased to $32.89 on Friday, while Toyota Motor Corp. ADR TM, -1.66%, Honda Motor Co. Ltd. ADR HMC, -1.26%, and General Motors Co.

The large stock market gain on Thursday caught investors off guard, but Friday brought more disappointment and realism.

Source: Nairametrics