Elon Musk's wealth has crashed by $160 billion from its peak as Tesla's problems pile up

• Tesla shares have tumbled 62% from their peak as investors gear up for a growth slowdown.

• The stock drop has fueled an estimated $160 billion decline in Elon Musk's net worth.

• The Tesla CEO is now worth about $178 billion, down from $340 billion in November 2021.

Tesla's mounting troubles have dealt a heavy blow to Elon Musk's net worth.

In November 2021, the Tesla CEO held the top spot on the Bloomberg Billionaires Index, and seemed untouchable with an estimated fortune of $340 billion. He was more than three times richer than Warren Buffett at that point.

However, Musk's net worth has plunged by about $160 billion since then to $178 billion at Tuesday's close. The key driver has been Tesla stock, which has tumbled from a split-adjusted peak of $415 in 2021 to $157 — a 62% decline.

The share-price slump has slashed Tesla's market capitalization from north of $1.2 trillion to below $500 billion. Musk's net worth has taken a big hit from the decline because his 13% stake in the automaker makes up a big chunk of his wealth.

Musk's start to this year has also been dismal relative to his peers in the 12-digit club. He topped the Bloomberg rich list with a $229 billion fortune in January, but his net worth has crashed by $51 billion, or 22%, since then.