Elon Musk's losses for 2022 exceeded $100 billion
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The Tesla co-founder is still the richest person in the world with $169.8 billion, according to the Bloomberg Billionaires Index, even after his net worth fell by $8.6 billion on Monday. It has lost $100.5 billion this year, the most in the wealth index, after peaking at $340 billion just over a year ago.

The electric car maker recently announced a recall of more than 300,000 vehicles due to faulty taillights. Tesla has also experienced supply chain disruptions and soaring commodity prices. Tesla shares fell 6.8 percent to $167.87 in New York trading on Monday, the lowest level since November 2020. In general, this year they fell by 52 percent. This compares to a 29% drop in the high-tech Nasdaq 100 index.

Tesla’s dependence on Musk is listed as a risk factor in its security filings. They note that although Elon Musk “spends a lot of time with Tesla and is very active in our management, he does not give Tesla all his time and attention.”

Musk, 51, has also run into trouble with Twitter, which he bought last month for $44 billion. The company has lost about 60 percent of its workforce since Musk took over, and the latest round of layoffs, which has affected hundreds of sales staff, took place on Sunday. Investors are wondering if the billionaire is too scattered among his various businesses.

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