Elon Musk, the CEO of Tesla lost $50 billion in two days as shares of Tesla fell for the third consecutive day.
According to Bloomberg Billionaires Index, this is the biggest two-day fall in its history, leaving the worth of Musk at $323 billion.
The heavy loss occurred as Tesla’s stocks nose-dived following a poll by Musk on his twitter where he asked if he should sell 10 percent of his stocks to pay taxes.
After a resounding number of followers replied in affirmative, Tesla’s stocks fell dramatically by 7 percent.
This drop in net worth of Elon Musk reduces the gap between him and Jeff Bezos, the second richest man of the world to $83 billion.
Despite the loss, Elon Musk’s total wealth has grown by 70 percent this year, due to the profit made by Tesla.
Elon Musk remains the only person on earth whose net worth exceeded by $300 billion.
Elon Musk loses $50 billion as Tesla shares fall for third day
- According to Bloomberg Billionaires Index, this is the biggest two-day fall in its history.
- his drop in net worth of Elon Musk reduces the gap between him and Jeff Bezos, the second richest man of the world to $83 billion.
Today's Headlines
By signing up you agree to our Terms of Use and Privacy Policy
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.
The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…
Majority of tenders issued are part of Bahrain’s $32 billion infrastructure development plans Oil and gas $767m, aviation $382m, construction and engineering $194m, materials and equipment $119m Bahrain…
PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size