Elon Musk’s wealth drops by nearly $13 billion — the biggest slide this year — after Tesla’s share prices slumped and SpaceX’s Starship rocket exploded

• Musk’s net worth fell by $12.6 billion to $164 billion on Friday, per Bloomberg Billionaires Index.
• That’s after Tesla share prices slumped on a 24% on-year decline in profit.
• His major companies — SpaceX, Tesla, and Twitter — have all experienced a turbulent week.

A turbulent week at SpaceX, Tesla, and Twitter saw about $12.6 billion being wiped off Elon Musk’s net worth on Friday, the biggest decline so far this year, according to Bloomberg’s Billionaires Index.  

Musk, who is worth $163.9 billion now, is still the second richest person in the world, after LVMH Moët Hennessy Louis Vuitton chairman and CEO Bernard Arnault who has amassed a $211 billion fortune. The two billionaires have been jostling for the top spot since Arnault overtook Musk last December.