The recent stock market crash has significantly reduced the wealth of the world's richest man.
Billionaire Elon Musk is $111 billion poorer after Tesla shares fell more than 40%.
Forbes reports this.
According to analysts, Musk's fortune decreased by $1.5 billion in one day and by the evening of Tuesday, March 4, it amounted to $353.2 billion.
“Musk's fortune is now down $110.8 billion from the all-time high of $464 billion set on Dec. 17, when Tesla shares closed at a record $480 a share. However, Tesla shares have struggled since then, trading below $280 on Tuesday.
Tesla's share price decline came as the S&P 500 fell 1.7% to a 2025 low as Trump's tariffs on Canada, China and Mexico took effect.
Earlier it was reported that a new scandal is raging in the artificial intelligence industry, as the latest version of the Grok AI model, developed by Elon Musk's xAI, suddenly lashed out at its own creator, accusing him of lying.