Elon Musk, the world’s richest man, has suffered a loss of $ 50 billion so far this week. Shares of Elon Musk’s company Tesla have fallen drastically in the last two days, due to which his wealth has also decreased by about $ 50 billion. Although according to Forbes magazine, Elon Musk still remains the richest person in the world, despite having lost $ 50 billion in just the last two days. He is followed by Amazon owner Jeff Bezos.
According to the Bloomberg Billionaires Index, Elon Musk’s wealth has fallen by $33.3 billion in just the last 24 hours, while it has lost $50 billion in the past two days. This is the biggest drop in any person’s wealth in just two days in the history of the Bloomberg Billionaires Index. At the same time, this is the second biggest drop in anyone’s wealth in a single day after the $39 billion fall in Jeff Bezos’s wealth in 2019. The decline in the wealth of Jeff Bezos came due to the division of assets after his divorce from his wife.
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Why are Tesla shares falling?
The shares of electric car maker Tesla have been witnessing turmoil for the past days. It started with a tweet by Elon Musk over the weekend, in which he asked his followers if he should sell a 10% stake in his company. He had given the option of a poll in the tweet, on which the followers had to give their opinion by clicking on yes or no.
However, just before polling started on Elon Musk’s tweet, news came that his brother Kimble had sold his stake of about $ 109 million in the company. On Tuesday, a statement from veteran investor Michael Burry (after whom the Hollywood film “The Big Short” is made) sparked further speculation that Musk might sell the company’s shares to pay off the personal debt he owed. Tesla shares closed down 11.99 percent on Wednesday at $1,023.50.
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The gap between Bezos and Musk narrows
Due to the decline in Musk’s wealth, now the gap between him and the world’s second richest man Jeff Bezos has also come down to $ 83 billion. Elon Musk first surpassed Jeff Bezos in terms of net worth in January this year for the first time and since then the gap between the two has increased to $143 billion. How much is the amount increased by $ 143 billion, you can understand it in such a way that the world’s fourth richest man Bill Gates has a net worth of $ 138 billion.
Apart from Elon Musk, Tesla’s investor Kathy Wood’s ARK Investment Management has incurred a loss of $ 75 million in the last two days. Apart from this, Larry Ellison, the company’s second largest shareholder and founder of Oracle Corporation, has a loss of $ 2.1 billion.
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