Tesla and SpaceX CEO has lost $50 billion (We are not even going to try to convert it into INR) after Tesla Inc. shares plunged for the second day in a row. According to a report by Bloomberg, it is the?biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezos's $36 billion plunges following his divorce from MacKenzie Scott in 2019.?
This week has been difficult for the automaker. Earlier this week, Musk had asked his Twitter followers whether he should sell 10 percent of his stake in the company. The poll was followed by news that his brother Kimbal sold shares just before the poll.
Capping it off was an Insider report Tuesday morning on Michael Burry, the investor made famous by the movie ¡°The Big Short,¡± saying Musk may want to sell shares to cover his personal debts.
Now, due to this huge loss, Musk's margin with Bezos as the world's richest person just became very slim at $83 billion.?
Musk surpassed the Amazon.com Inc. founder for the title for the first time in January and the difference between the two was recently as wide as $143 billion, a figure greater than the net worth of Bill Gates, the world's fourth-richest person.?
However, despite this loss, Musk's fortune is still up 70 percent this year thanks to Tesla's gains due to strong earnings growth and high delivery numbers, and also a higher valuation for SpaceX.
The Bloomberg report added that 'Tesla's market capitalization has stayed above $1 trillion, a benchmark it hit last month after its third-quarter results significantly beat market expectations and rental-car company Hertz Global Holdings Inc. placed an order for 100,000 Tesla cars.'
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