New York, 06 July 2024 - Elon Musk, the founder and owner of Tesla and SpaceX, has seen a significant drop in his wealth over the past seven months. According to a report by Forbes, Musk's net worth decreased by about $30 billion from January 2024 to June 28, 2024.

At the beginning of the year, Musk's net worth stood at $251.3 billion. However, recent U.S. stock market filings show that his wealth has fallen to $221.4 billion. The primary reason for this decline was a substantial $51 billion payout in a lawsuit filed by former Tesla employees in January.

Despite this significant financial hit, Musk remains the richest person in the world, with his nearest rivals still unable to surpass him. Forbes described this drop in Musk's wealth as a "rare loss," highlighting the unusual nature of such a steep decline in a short period.

This decline underscores the volatility and potential risks associated with the vast fortunes of the world's wealthiest individuals, even those at the top like Elon Musk.