Elon Musk's Net Worth Declines Nearly $30 Billion in 2024 So Far, Most Among Other Billionaires

Elon Musk has seen the biggest fall in his net worth in the first six months of 2024 as compared to any other billionaire in the world. According to Forbes’ estimates, Tesla CEO Elon Musk’s net worth declined from $251.3 billion on December 31, 2023, to $221.4 billion on June 28, 2024. This is more than any other billionaire as per Forbes.

Elon Musk’s net worth has been taking a toll after a Delaware judge ordered to stop Musk’s Tesla compensation package, which was valued at $51 billion. Though the Tesla shareholders re-approved the package last month but the company likely faces a lengthy and uncertain appeal process in the matter.

According to Forbes, it was a shaky six months for Musk’s fortune, as the value of his existing 13% stake in Tesla decreased by about $20 billion as shares of the automaker slipped 20% due to declining profits and car deliveries. This is compared with other 10 biggest Forbes’ billionaires, whose combined wealth increased from $1.47 trillion to $1.66 trillion during December 2023-June 2024.

Other billionaires who lost the most as Elon Musk are Grupo Carso’s Carlos Slim Helu & family, Nongfu Spring’s Zhong Shanshan, Lidl’s Dieter Schwarz, LVMH’s Bernard Arnault & family, Bayan Resources’s Low Tuck Kwong, Ineos’s James Ratcliffe, Nike’s Phil Knight & family, L’Oréal’s Francoise Bettencourt Meyers & family, and Fortescue Metals Group’s Andrew Forrest & family.

According to Forbes, Europe’s richest man Bernard Arnault’s net worth fell from $200.7 billion to $193.8 billion as shares of his luxury empire LVMH declined, Mexico’s wealthiest person Carlos Slim Helu’s fortune sank from $105.3 billion to $91.4 billion as shares of his telecommunications colossus slipped, Nike cofounder Phil Knight, whose net worth sank from $42.9 billion to $33.7 billion as Nike stock fell to a four-year low, and philanthropist Mackenzie Scott, whose fortune stems from her shares in Amazon, experienced a $4.7 billion drop in her net worth due mostly to the magnitude of her charitable donations as Amazon’s stock rallied.