Musk's current net worth is $99 billion less than his peak of $320 billion in November 2021. So, even the big whales are swimming in rough waters!
A lot of analysts have the simplest analysis ever: when the market goes down, they say "big whales are selling." When it goes up, it's "big whales are buying." Oh, and don’t forget, Bill Gates is buying, Elon Musk is buying, BlackRock is buying, all the big guns are buying. What the heck is this, man? 😂
It's like they have a secret hotline to every billionaire on the planet!
Meanwhile, even the big whales are taking hits. Elon Musk, the CEO of Tesla, lost more money than any other billionaire in the first half of 2024. His net worth dropped from $251.3 billion to $221.4 billion, mainly because of a court ruling that slashed his Tesla compensation package by half.
Despite Tesla shareholders re-approving the package, the uncertainty remains, and his 13% stake in Tesla dropped by $20 billion as the company's profits and car deliveries declined. Yet, his AI startup xAI grew to $14.4 billion. So, while Musk lost $29.9 billion, he's still the richest person in the world.
Other billionaires like Bernard Arnault, Carlos Slim Helu, and Phil Knight also saw declines. On the flip side, Nvidia’s CEO Jensen Huang became the biggest gainer, adding $64.1 billion to his fortune.
Musk's current net worth is $99 billion less than his peak of $320 billion in November 2021. So, even the big whales are swimming in rough waters!
