According to the Bloomberg Billionaires Index, the Tesla founder and Twitter owner lost $200 billion off his net worth.

It was gathered that the former richest man in the world’s  wealth plummeted to $137 billion following the decline in Tesla shares in recent weeks.

In a down year for stocks, the 65 percent drop in Tesla’s share price stands out for the scale of wealth vaporized and the unorthodox behavior of its chief executive, Elon Musk.

The collapse of Tesla’s stock price destroyed about $672 billion in market value.

The spectacle has stunned investors and analysts. And many are asking what will happen to the stock, the company and Musk in 2023. The answer largely depends on Musk and Tesla’s board of directors.

However, Tesla is now offering consumers in the United States a $7,500 discount for its two highest-volume models before year-end.

Recall Musk’s fortune topped at $340 billion in November 2021.

On the back of this, he was the world’s richest person for more than a year at a stretch.

The Twitter owner was overtaken in December 2022 by Bernard Arnault, the French business magnate

Bernard is the co-founder, chairman, and chief executive officer of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.

He has an estimated net worth of US$181.8 billion as of December 2022, according to Forbes, making him the richest person in the world.