Elon Musk lost $50 billion in 2 days after Tesla shares plunged 16%
  • Tesla CEO Elon Musk is now worth $288 billion, in accordance with the Bloomberg Billionaires Index.
  • Musk’s $50 billion loss comes on the aid of a 16% decline in Tesla’s portion sign this week.
  • He is aloof the richest man on earth, main second-wealthiest man Jeff Bezos by $82 billion.

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Or now not it is top Wednesday, nonetheless Tesla CEO Elon Musk has already lost $50 billion this week after shares of Tesla tanked 16% in two days.

The large losses advance on the aid of a string of headlines, including tweets from Musk himself and but another tweet from a famed short-vendor.

Per the Bloomberg Billionaires Index in its most contemporary replace, Musk is worth $288 billion after the losses. The $50 billion lost marks the largest two-day decline in the ancient previous of the index, in accordance with Bloomberg.

Tesla’s portion costs fell sharply this week after Musk asked his Twitter followers over the weekend if he must promote 10% of the inventory he holds to pay taxes. The outcomes possess been a convincing certain — causing Tesla portion costs to fall as phenomenal as 7% on Monday.

Tesla’s portion costs came underneath extra pressure on Tuesday — falling as phenomenal as 12% — after famed short-vendor Michael Burry suggested in a now-deleted tweet that Musk can even merely want to promote his shares to duvet his personal debts. Portion costs possess been additionally hit by info that Musk’s cousin and director of the EV firm, Kimbal Musk, sold over $100 million of Tesla inventory final week.

Despite the keen decline this week, Tesla shares are aloof up 40% yr-to-date — and Musk is aloof the richest man on earth, main second-wealthiest man Jeff Bezos by $82 billion, in accordance with the Bloomberg Billionaires Index.

This article change into as soon as amended to copy updated figures from the Bloomberg Billionaires Index. An earlier model build Musk’s salvage worth at $323 billion on Wednesday.

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