- Elon Musk’s fortune fell 5.4% to $193 billion on Tuesday, while Tesla shares fell 7%.
- Uncertainty over Musk’s purchase of Twitter has prompted a massive sell-off in Tesla shares, which have fallen 41% this year.
- Musk’s net worth isn’t $200 billion anymore, but he’s still $65 billion richer than Jeff Bezos.
Elon Musk then left the $200 billion club Tesla Shares lost 7% on Tuesday.
Musk’s fortune fell 5.4 percent to $193 billion as the electric carmaker’s share price fell, it said Bloomberg That means he lost $11.1 billion in one day.
Tesla is down 41% year-to-date as the tech sector sold off more broadly. Since then, it’s down less than 38% Musk inked a deal last month to buy Twitter for $44 billion.
Musk has stirred controversy since the upcoming acquisition was announced Threatens to cut its offer due to the number of bots on the social media platform. The ongoing uncertainty seems to have eroded Tesla’s value.
“This circus show took a huge toll on Tesla stock,” Wedbush’s Dan Ives said in a note Monday. “Musk faces a critical situation as he must decide his next move in this series as the Tesla investor’s patience grows impatient.”
Musk has already pulled out of the $200 billion club twice this year – Once in February Then again in March. Stock market rallies have pushed it back above that threshold on both occasions.
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It is now the lowest level since last August Bloomberg Billionaires Index. He’s lost close to $78 billion this year, but he’s still easily the richest person in the world.
Musk is $65 billion richer than Jeff Bezos, who lost $65 billion this year Amazonas Year-to-date down 38%. Bill Gates and Warren Buffett LVMH Chairman Bernard Arnault and Indian industrialist Gautam Adani are worth more than $100 billion.
