Elon Musk lost $12 billion in value

Elon Musk is by far the richest person in the world, topping the list with around $400 billion (US).

As CEO of multinationals such as Platform X and Tesla, the South African is ahead of such giants as Jeff Bezos, Mark Zuckerberg and Bill Gates.

The 54-year-old has taken a financial hit in recent days, however, as Tesla has announced significant losses due to the impending expiry of federal tax credits on electric vehicle purchases.

The whole thing will expire on September 30, due to a new law established in the United States by President Donald Trump.

In fact, Tesla shares fell by 9%, due to a significant drop in pre-market trades. This is their biggest quarterly revenue loss in over a decade. As a result, Musk’s net worth fell by approximately $12.6 billion (US), to $397.3 billion (US), a reduction of over 4%.

And although the past few quarters have not been very successful, Musk is optimistic about the future… that’s a good attitude!