The Russian-Ukrainian war has turned markets upside down, causing billionaires' fortunes to fluctuate dramatically. The wealth of the world's richest billionaires has fallen below $200 billion. Elon Musk, CEO of Tesla, was the only billionaire still exceeding that limit as the week neared its end, before his fortune dropped by $13.3 billion on Wednesday, reaching $198.6 billion, thus closing "the $200 billion club," according to Bloomberg, as reported by Al Arabiya.
Tesla shares have fallen for the fourth consecutive day to their lowest level since September amid a widespread decline in global stock markets. Musk has lost $71.7 billion of his wealth so far this year, which is more than the combined losses of the next three richest individuals. This decline comes amidst escalating geopolitical tensions surrounding Ukraine and central banks tightening monetary policies.
Musk's wealth peaked at $340.4 billion on November 4, when Tesla shares reached a record high. Jeff Bezos, Amazon's co-founder and the only other billionaire alongside Musk to exceed $200 billion, also did not escape the recent downturn, as his wealth dropped by more than $5.4 billion on Wednesday, stabilizing at $169 billion.
