Elon Musk is no longer the richest man in the world after Tesla Inc. shares. slipped 8.6% Monday, sweeping $ 15.2 billion from its net worth.
Tesla’s biggest decline since September was partly fueled by Musk’s comments over the weekend that less competitive Bitcoin and Ether prices “look high. His message – via his favorite medium on Twitter – came two weeks after Tesla announced that it had added $ 1.5 billion in Bitcoin to its balance sheet. The cryptocurrency, which has surpassed more than 400% over the past year, fell for a second day on Tuesday, at one point falling below $ 50,000 on suspicion of the stability of its rally.
Musk also tweeted earlier Monday that a Model Y Standard Range SUV would still be available “off the record,” backing reports from electric vehicle news site Electrek that the model has been removed from the engine on his online.
Musk falls to second place on the Bloomberg Billionaires Index of the 500 richest people in the world with a net worth of $ 183.4 billion – down from a peak of $ 210 billion in January. Amazon.com Inc. founder Jeff Bezos took the lead even when his fortune fell $ 3.7 billion to $ 186.3 billion on Monday.
The two billionaires have been changing places since January as the value of Tesla changed. The stock rose as much as 25% to start in 2021 before virtually eliminating the gain this year. Musk overtook Bezos for a short time after its Rocket company SpaceX raised $ 850 million earlier this month, valuing the company at $ 74 billion, a 60% jump since August.
Bezos topped the rankings for three years just before January, when Musk downgraded the e-commerce titan thanks to a 794% rally in Tesla shares.
Monday’s market sales hit many of the world’s richest. Zhong Shanshan, the richest man in Asia, was the second-largest decliner on Bloomberg’s index, falling by $ 5.1 billion as his company bottled water fell 4.5%. Colin Huang of Pinduoduo Inc., Mukesh Ambani of Reliance Industries Ltd. was lost. and Pony Ma Tencent Holdings Ltd. more than $ 2.5 billion each.
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