In an unexpected turn of events, Elon Musk's net worth saw a massive decline, dropping by $22.2 billion in a single day. His total fortune now sits at $364.3 billion, marking a notable drop from previous highs.
This sharp decline is mainly linked to Tesla’s struggles in Europe, where the company experienced a nearly 50% drop in sales in January. As a result, Tesla's stock took an 8.4% hit, driving the company’s market value below $1 trillion for the first time since November.
With Tesla accounting for a significant portion of Musk’s wealth, the company’s recent difficulties raise an important question: What’s next for the tech mogul? Is this just a temporary setback, or could it signal deeper, long-term challenges for Musk and his businesses?