00:00Elon Musk recently became the first person ever to lose a shocking $200 billion from his personal
00:05fortune. As this loss in value derives from his stock in Tesla, this shows just how volatile and
00:11unprecedented the stock market can be. The US economy is currently facing the possibility of
00:16another recession in 2023, which could lead to further losses for Tesla's stock as well as a
00:21potential decline in Tesla's order forecast. Recession or not, economists have observed global
00:26net worths rise to the highest levels they have in history. This is particularly true for the
00:31ultra high net worth club. The cutoff rate to be considered an ultra high net worth individual is
00:35$30 million. Today, the number of people who fit that description is estimated to be around 218,000
00:43globally, an unprecedented figure that has risen by over 50,000 since the pandemic recovery boom.
00:50But now that the bears seem to have replaced the bulls in crypto, real estate, and equity markets,
00:55do you think that the number of ultra net worth individuals will go down in 2023?
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