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When Tesla’s price goes down, Elon Musk loses his position as the wealthiest person in the world

Elon Musk Lost status as the wealthiest person in the world Amazon Founder Jeff Bezos After the value of an entrepreneurial electric car manufacturer Tesla It plummeted.

The company’s stock fell 8.5% on Monday and 6% on Tuesday-cleaning up an estimated $ 15.2 billion (£ 10.8 billion) from Mr. Musk’s personal property, placing him second on the world’s extensive list. Driven to.

A South African-born businessman overtook Bezos as the wealthiest person on the planet earlier this year as Tesla’s stock price soared.

As of early January, Musk was said to be worth $ 188.5 billion (£ 138.9 billion). That’s about $ 1.5 billion (£ 1 billion) more than Bezos, who has been at the top since October 2017.

Analysts say Musk’s recent tweet about Bitcoin was one of the factors that contributed to Tesla’s loss-about the unstable cryptocurrency shortly after his company announced that it had invested in it. talked.

Tesla announced earlier this month that it had invested about $ 1.5 billion (£ 1 billion) in Bitcoin. This is a decision that suggests that Mr. Musk is not involved.

He resigned as chairman of the company in 2018, but remains CEO.

“Tesla’s actions do not directly reflect my opinion. Having Bitcoin, which is less liquid than cash, is adventurous enough for S & P 500 companies,” Musk said on February 19. Tweeted on the day.

“Bitcoin is about as bs as fiat money. The keyword is” almost “.”

A day later, he tweeted that the value of Bitcoin and another cryptocurrency, Ether, “seems to be high.”

Excessive investment in the company earlier this year prior to Tesla Model Y price changes, intensifying competition and loss of earnings was advocated as another reason for the company’s share price to fall.

After co-founding an e-commerce site and selling the internet payments company PayPal Holdings Inc in 2002, Musk now leads many businesses focused on technology development.

Besides Tesla, he leads rocket companies SpaceX and Neuralink. This is a start-up company developing ultra-high bandwidth brain-machine interfaces for connecting the human brain to computers.

When Tesla’s price goes down, Elon Musk loses his position as the wealthiest person in the world

Source link When Tesla’s price goes down, Elon Musk loses his position as the wealthiest person in the world

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