Elon Musk's Fortune Takes $22 Billion Hit, Still Dwarfs Indian Tycoons

Tech titan Elon Musk experienced a jaw-dropping $22.2 billion (Rs 1,93,394 crore) wealth erosion in a mere 24 hours, as Tesla's stock plummeted 7.2% on February 26, 2025. The decline was triggered by disappointing European sales figures and mounting competition in the electric vehicle market. Despite this setback, Musk's net worth stands at a colossal $358 billion, eclipsing the combined fortunes of Indian billionaires Mukesh Ambani ($87.7 billion) and Gautam Adani ($66.8 billion). Tesla's challenges include production delays, regulatory hurdles in China, and intensifying rivalry from traditional automakers. Nevertheless, Musk remains the world's wealthiest individual, with his net worth exceeding that of the next two richest people combined, underscoring his enduring dominance in the global wealth rankings.
Sources: Bloomberg, Forbes, Reuters, Financial Times