Elon Musk Loses $15.2 billion after a tweet, now no longer the world's richest man

Feb 23 2021 05:29 PM
Elon Musk Loses $15.2 billion after a tweet, now no longer the world's richest man

Tesla CEO Elon Musk has dropped back to the second position on the Bloomberg Billionaires Index with a net worth of $183.4  Tesla shares slid 8.6% on Monday. The fall of Tesla shares wiped out a whopping $15.2 billion from Musk's net worth. This has been the biggest decline in Tesla's value since September.

The decline was caused partially by Musk’s tweet that the prices of Bitcoin and smaller rival Ether “do seem high." 
Two weeks ago, Tesla announced it added $1.5 billion in Bitcoin to its balance sheet. Musk has also confirmed via a tweet on Monday that Tesla's Model Y Standard Range SUV would still be available “off the menu," backing up reports from EV news site Electrek that the car had been discontinued from its online configurator.

Musk's net worth is $183.4 billion which is down from a peak of $210 billion in January. On the other hand, Amazon.com Inc. founder Jeff Bezos has reclaimed the top spot even after his fortune took a fall of $3.7 billion to $186.3 billion on Monday. Musk has been swapping the top spot with Bezos since January as the value of Tesla fluctuated.

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