Elon Musk: Biggest drop in net worth in first six months of 2024, compared to any other billionaire in the world Elon Musk’s net worth has seen the biggest drop in the first six months of 2024. According to Forbes estimates, Tesla CEO Elon Musk’s net worth fell from $251.3 billion on December 31, 2023, to $221.4 billion on June 28, 2024. This is more than any other billionaire according to Forbes. Elon Musk’s net worth is declining after a Delaware judge ordered a halt to Musk’s Tesla compensation package, which was worth $51 billion. Although Tesla shareholders re-approved the package last month, the company is likely to face a long and uncertain appeals process over the matter. It was a tough six months for Musk’s fortune, according to Forbes, as the value of his existing 13% stake in Tesla dropped by about $20 billion while the automaker’s shares fell 20% due to a drop in profits and car deliveries. This is compared to the other Forbes top 10 billionaires, whose combined wealth grew from $1.47 trillion to $1.66 trillion between December 2023 and June 2024.
The other billionaires who lost the most like Elon Musk are Carlos Slim from Grupo Carso, Helu and family, Zhong Shanshan from Nongfu Spring, Dieter Schwarz from Lidl, Bernard Arnault and family from LVMH, Low Tuck Kwong from Bayan Resources, James Ratcliffe from Ineos, Phil Knight and family from Nike, L’François Bettencourt Meyers and family from Oriel, and Andrew Forrest and family from Fortescue Metals Group. According to Forbes, Europe’s richest man, Bernard Arnault, saw his net worth fall from $200.7 billion to $193.8 billion as shares in his LVMH luxury empire tumbled, Mexico’s richest man, Carlos Slim Helu, saw his wealth fall from $105.3 billion to $91.4 billion as shares of his telecommunications giant fell, Nike co-founder Phil Knight, whose net worth fell from $42.9 billion to $33.7 billion as Nike shares fell to their lowest level in four years, and philanthropist MacKenzie Scott, whose wealth comes from her shares in Amazon, saw her net worth fall by $4.7 billion mainly due to the amount of her charitable donations as Amazon shares rose.
