Elon Musk Leads Billionaires in Losses for First Half of 2024

According to Forbes estimates, Elon Musk’s net worth experienced the largest decline among billionaires worldwide in the first half of 2024.

Despite a stock market surge, Musk’s wealth fell significantly from $251.3 billion on December 31, 2023, to $221.4 billion by June 28, 2024.

Factors Contributing to Decline:

The decrease in Musk’s wealth follows a Delaware judge’s decision to halt Tesla’s $51 billion compensation package. The package was later re-approved by shareholders but faces a lengthy legal appeal.

Additionally, Musk’s 13% stake in Tesla lost approximately $20 billion as the company’s shares dropped 20% due to lower profits and vehicle deliveries in 2024.

Comparison with Other Billionaires:

While Musk’s fortunes declined, Forbes reports that the collective net worth of the top ten wealthiest individuals increased from $1.47 trillion to $1.66 trillion during the same period.

Other Billionaires Facing Losses:

Among the billionaires who also saw significant declines in the first half of 2024:

• Dieter Schwarz
• Carlos Slim Helu & family
• Zhong Shanshan
• Andrew Forrest & family
• Francoise Bettencourt Meyers & family
• Phil Knight & family
• James Ratcliffe
• Bernard Arnault & family
• Low Tuck Kwong