Elon Musk is losing $15 billion a day after bitcoin alarm
Elon Musk is no longer the world’s richest person after Tesla Inc. shares slid 8.6 per cent on Monday, wiping US$15.2 billion from his net worth.
Tesla CEO Elon Musk is no longer the world’s richest person, according to Bloomberg Billionaires Index.
Tesla’s decline was fueled in part by Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether “do seem high.” His message – via his favored medium of Twitter -came two weeks after Tesla announced it has added US$1.5 billion in Bitcoin to its balance sheet.
Musk slips to second position on the Bloomberg Billionaires Ranking of the world’s 500 richest people with a net worth of US$183.4 billion. Amazon.com Inc. founder Jeff Bezos took the top spot even though his fortune dropped from US$3.7 billion to US$186.3 billion.
Bezos held the top spot in the ranking for three consecutive years prior to January, when Musk eclipsed Titan e-commerce with a 794 per cent Tesla share rally.