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Taylor Hill/Getty Images; Getty Images Elon Musk
According to multiple reports, Elon Musk amassed nearly $92 billion in assets after acquiring Twitter this year.
Bloomberg reported that shares in another of Musk’s business ventures, Tesla Inc., which is the largest part of his fortune, traded as low as $186.75 on Tuesday.
The drop in value comes as investors in the electric car company expressed concerns after Twitter’s acquisition, according to the outlet.
A Tesla representative did not immediately respond to PEOPLE’s request for comment.
Pascal Le Segretain/Getty Elon Musk
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As a result, 51-year-old Musk’s fortune is now $177 billion. His fortune peaked at $340 billion last year when Tesla shares traded at his $410 record price. But his current net worth didn’t affect his title as the world’s richest person, Bloomberg reported.
Late last month, he signed a deal to buy Twitter for $44 billion. According to The Verge, Musk, who reportedly owed him $12 billion to enable the sale, offered other ways to generate revenue for the company, such as charging most or all users a subscription fee. We are considering.
A source familiar with the situation told the outlet that Tesla’s CEO and one of his advisors, venture capitalist David Sachs, discussed the idea of a platform-wide paywall at a recent meeting.
Representatives for Musk and Twitter did not immediately respond to PEOPLE’s request for comment.
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Last week, days after acquiring the San Francisco-based company, Musk laid off many of Twitter’s 7,500 employees. According to The Verge, the company tried to reinstate some of these employees within hours of their layoffs.
Musk is currently being sued by several Twitter employees for violating the Employee Adjustment and Retraining Notification Act (WARN) and making large-scale layoffs. The law requires an employer to give her at least 60 days’ notice of such a move.
Employees are asking courts to restrict Twitter from urging employees to sign documents that could require it to comply with the WARN Act and waive its right to sue the company.
Related Video: Elon Musk Buys Twitter For $44 Billion, Fires Top Executives After Legal Battle With Company: Report
Musk recently took to Twitter New $8/month subscription service, Twitter Blue makes it easy for all Twitter users to get the blue check mark symbol. It was formerly reserved for verifying government accounts and public figures such as celebrities, politicians and journalists.
The company has since decided to delay its rollout until after the midterm elections. new york times.
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