Elon Musk is $8 billion poorer after taking control of Twitter, meaning his net worth has fallen by $66 billion this year

Elon Musk is $8 billion poorer after taking control of Twitter, meaning his net worth has fallen by $66 billion this year

Taking control of Twitter left Elon Musk $8 billion worse off overnight, . The new owner of the social media platform said he bought it to "try to help humanity," and not to make more money. Before sealing the $44 billion deal on Thursday, Musk was estimated to be worth about $212 billion, per Bloomberg. That figure declined to $204 billion on Friday, however. He remains the world's richest man, but Musk's net worth has fallen by $66 billion this year, according to Bloomberg. That's mainly because Tesla shares have skidded by 43% this year, as some investors anticipated he would sell more stock in the electric-vehicle maker to help fund the Twitter deal. The Tesla chief has a stake of about 15.6%. Musk's net worth peaked in November last year at $338 billion when Tesla shares soared. Other investors in the Twitter deal have also suffered, Bloomberg found. Twitter co-founder Jack Dorsey's wealth fell by an estimated $380 million, while another Musk backer, Saudi investor Prince Alwaleed Bin Talal al Saud, took a hit of about $640 million hit. While Musk's fortune has dipped, top Twitter executives who were let go as part of the billionaire's first moves will