Elon Musk loses $50 billion as Tesla shares fall for third day

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Tesla founder Elon Musk.
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  • 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.

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.

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