The net worth of the Tesla boss fell to $221.4 billion from $251.3 billion due to falling profits and inability to get compensation package.

Elon Musk becomes the biggest billionaire loser in the first six months of 2024.Elon Musk becomes the biggest billionaire loser in the first six months of 2024.(AP)

The net worth of Tesla’s Elon Musk has fallen more than any billionaire in the world in the first six months of the year, despite a stock market boom, according to Forbes’ estimates.

The net worth of the Tesla boss fell to $221.4 billion from $251.3 billion. The estimate accounts for data from December 31, 2023 to June 28, 2024, the stock market’s last day of the first-half of the calendar year, more than any other billionaire tracked by Forbes

Musk remains the richest person on the planet.

Apart from the equity award, the value of Musk’s 13% stock in Tesla decreased by $20 billion as shares of the EV maker fell 20% so far this year, mainly due to falling profits and car deliveries.

Tesla produced 410,831 vehicles during the quarter, 14% fewer than the same period a year ago, Bloomberg reported earlier this week. The company did not offer an explanation thought, the Bloomberg report said, adding it will provide more details when it reports earnings on July 23.

The total net worth of ten richest people’s jumped to $1.66 trillion by the end of June from $1.47 trillion by the end of December, 2023.

Billionaires who lost wealth in the first half of 2024 are:

    Elon Musk, $29.9 billion
    Dieter Schwarz, $15.4 billion
    Carlos Slim Helu & family, $13.9 billion
    Zhong Shanshan, $11.3 billion
    Andrew Forrest & family, $9.5 billion
    Francoise Bettencourt Meyers & family, $9.4 billion
    Phil Knight & family, $9.2 billion
    James Ratcliffe, $7.5 billion
    Bernard Arnault & family, $6.9 billion
    Low Tuck Kwong, $6.7 billion