- Tesla company owned by the world's richest person Elon Musk recorded a slump of R197bn
- Musk lost billions since he launched his bid for Twitter in April 2022 with investors in Tesla questioning how he will fund the giant social media site
- But he remains the world's richest person even after the massive loses
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The world's richest person, Elon Musk, has lost $12.3 billion (R197 billion) in one day amid the Twitter takeover row.
Bloomberg reported that Musk lost $49 billion since he launched a bid to acquire Twitter in April 2022.
Musk's Tesla Inc. recorded a slump of R197bn in one day as he tweeted about his political switch from Democrat to Republican.
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He said that the Environmental Social Standards (ESG) was a scam and changed his mind to support Democrats
Musk also predicted political attacks on him will “escalate dramatically in coming months.”
Still the world's number one
His sentiments came after Tesla lost its spot on an S&P Global index that tracks companies on their environmental, social and governance standards.
The Space X owner is reported to have lost a whopping $60.4 billion(KSh 7 trillion) in 2022 but still maintains his title.
The 50-year-old remains the world's richest person with a fortune of $209.9 billion.
Source: Briefly News