Elon Musk’s fortune took a $50 billion hit in simply two days this week, although he stays the richest man on this planet.
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Tesla shares plummeted for a second consecutive day on Tuesday, in response to Bloomberg, which led to the massive loss.
Bloomberg famous it’s the greatest two-day decline within the historical past of its BIllionaires Index. It’s the greatest one-day plummet after Jeff Bezos’s $36 billion fall, which occurred after he divorced MacKenzie Scott in 2019.
Associated: Elon Musk Sinks Tesla Shares With Contentious Twitter Ballot
Notably, the loss narrows Musk’s lead over Bezos, the founding father of Amazon. He now leads by $83 billion. Musk handed Bezos for the title in January.
The hit to Tesla’s inventory got here after Musk polled his thousands and thousands of Twitter followers over the weekend on whether or not he ought to promote a few of his inventory. Over 3.5 million folks voted and the bulk stated “sure.” Musk beforehand vowed to “abide” by no matter respondents selected.
Earlier this week, information broke that Musk’s brother, Kimbal Musk, bought a few of his personal Tesla inventory earlier than the founder and CEO launched his Twitter ballot.
Bloomberg attributes the plummet to each of these occasions.