After Tesla shares simply hit yearly lows, tech billionaire Elon Musk’s web value has plummeted to historic depths.

According to Bloomberg’s Billionaire Index, Musk’s private fortune has decreased by $59.5 billion this yr, leaving him with $211 billion.

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Elon Musk’s current web value is sufficient to purchase 114 million troy ounces of gold or 1.76 billion barrels of oil.

An e-mail with the topic line “stop all hiring worldwide” was apparently despatched to Tesla executives, inflicting the worth to drop to $700 help ranges.

Chief Executive Elon Musk claimed within the e-mail that he had a “very awful feeling” concerning the economic system and that worker headcount wanted to be slashed by 10%.

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According to an annual SEC report, Tesla employed roughly 100,000 employees on the finish of 2021. Even as Microsoft MSFT, -1.66%, dropped its expectations earlier than

the opening bell, blaming foreign-exchange charges, Tesla shares fell greater than 9% in premarket commerce to $700 help ranges. Musk’s seeming financial

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