- Musk's net worth fell by $12.6 billion to $164 billion on Friday, per $4
- That's after Tesla share prices slumped on a 24% on-year decline in profit.
A turbulent week at SpaceX, Tesla, and Twitter saw about $12.6 billion being wiped off Elon Musk's net worth on Friday, the biggest decline so far this year, according to $4.
Musk, who is worth $163.9 billion now, is still the second richest person in the world, after LVMH Moët Hennessy Louis Vuitton chairman and CEO $4 who has amassed a $211 billion fortune. $4 have been jostling for the top spot since $4.
The slide in Musk's net worth tops a chaotic week. On Thursday, $4 minutes after liftoff in its test flight, Tesla's share price took a hit after the company's earnings release, and Twitter's legacy verified users started seeing their $4 from their accounts.
The development at Tesla most directly impacted Musk's net worth. $4 share price $4 after the electric vehicle maker posted a 24% on-year slump in profit to $2.5 billion, in part, due to $4 recently. Tesla's share price closed 9.8% lower at $162.99 on Thursday.
Bloomberg derives Musk's net worth from a 13% stake in publicly-traded Tesla, a 42% stake in the closely held SpaceX, and a 79% share in Twitter, $4 for $44 billion in 2022. He is the CEO of all three companies.
Tesla's share price was up 0.1% in after-hours trade. The stock is up 33% so far this year.