May 29, 2024
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Elon Musk No Longer the World’s Richest Man

After Tesla shares slid 8.6 percent on Monday, Tesla’s CEO Elon Musk is no longer the world’s richest man. A whopping $15.2 billion of Musk’s net worth was wiped out by the collapse of Tesla shares. This has been the biggest fall in Tesla’s value since September.

The decline was partly fueled by Musk’s tweet that the prices of Bitcoin and smaller rival Ether “do seem high.” The tweet came two weeks after Tesla announced it added $1.5 billion in Bitcoin to its balance sheet.

Musk drops to second place on the Bloomberg Billionaires Index of the world’s 500 richest people. Jeff Bezos, founder of Inc reclaimed the top spot even after his fortune fell by $3.7 billion to $186.3 billion. Musk is now worth $183.4 billion after the loss of $15.2 billion from his previous worth of $210 billion.

The two billionaires have been switching places for the top spot this year as the value of Tesla fluctuated. After Musk’s SpaceX rocket company earned $850 million earlier this month, he briefly overtook Bezos, valuing the company at $74 billion, a 60 per cent jump from August.

Pic Courtesy : google/ images are subjected to copyright

Pic Courtesy : twitter/ images are subjected to copyright


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