Imagine yourself losing $50 thousand in 2 days, you will surely feel so bad. But after hearing that someone has lost $50 billion in 2 days could make you better. Yes, you read it right, $50 billion in just 2 days.
Yet, the richest on Earth, and maybe Space
Elon Musk has lost $50 billion so far this week according to the Bloomberg Billionaires Index. For all of Musk’s fans don’t worry, he is still the richest person in the world. Musk’s fortune is still up 70 percent this year, thanks to Tesla’s gains and a higher valuation for SpaceX.
This loss came after Tesla Inc. shares plunged over the same period. Tesla lost about $199 billion in value since September 2020. It’s the biggest two-day decline in history since Jeff Bezos’s $36 billion plunges in 2019 following his divorce from MacKenzie Scott.
- Tesla Stock Price Drops After Elon Musk Poll to Sell His Shares Was Voted Yes
- Elon Musk Asks His 62.5 Million Twitter Followers if He Should Sell 10% of Tesla Stock
That all happened after Tesla CEO posted “the most expensive tweet in history”. The post where he asked 64 million followers whether he should sell off 10 percent of his Tesla stock. For sure, before publishing that post he didn’t think about the chain reaction which sent the electric car company’s stock into free-fall.
The surprising news is that Kimbal Musk, reportedly sold Tesla shares a day before his brother, shared that famous tweet. Bloomberg reported that Elon Musk’s brother sold 88,500 Tesla shares on November 5 for about $US109 million.
Despite this decline, Tesla shares remain up 40% year to date.