Elon Musk reportedly lost a huge amount of money, making a dent in his net worth, after Tesla shares fell around 16 percent.
Tesla and SpaceX CEO Elon Musk, who is currently the wealthiest person in the world, saw a steep decline in his net worth after the shares of Tesla took a major hit. Though the billionaire reserves the top spot on the world’s rich list, he might drop down to second place if the share decline continues.
Musk has already lost over Rs 37 lakh crores, amounting to USD 50 billion, after Tesla stocks plummeted by about 16 percent over the course of the last two days. Though his net worth has tanked big time, he is still about USD 100 billion worth more than Amazon founder Jeff Bezos.
The share drop of Tesla came after the 50-year-old billionaire posted a series of comments on Twitter, conducting a poll about whether he should sell 10 percent of his stock. It is calculated that the net worth of Tesla has dropped more than 200 billion dollars after Must posted his tweet.
After the share prices of Tesla dropped steeply, so did the net worth of Elon Musk. The entrepreneur is now worth USD 323 billion, after the loss. The 50 billion drops became the largest decline in net worth on the Bloomberg Billionaire Index recorded over the course of two days.
Elon Musk put up a poll on Twitter this week, asking his followers to choose whether he should sell 10 percent of his Tesla stock to pay taxes. The shares of the company plummeted soon after, as Musk’s followers began voting ‘Yes’ on his Twitter poll.
In another series of tweets, popular short-seller Michael Burry suggested that the Tesla CEO wanted to sell the company stocks to cover his own personal debts. The shares of the company further dropped after news came that Musk’s cousin, Kimbal Musk, sold over 100 million dollars worth of Tesla stock last week.
Even though Elon Musk saw a sharp decline in his net worth this week, he still stands above Amazon founder Jeff Bezos. Bezos has a net worth of over USD 200 billion while Musk has a net worth of USD 323 billion as of today.
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 "Tesla CEO Elon Musk loses Rs 37 lakh crores in two days -Here's why")
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