Elon Musk Drops Out of $200 Billion Club Again as Tesla Tumbles
Musk, the world’s richest person, saw his fortune drop Tuesday by 5.4% to $192.7 billion as shares of Tesla Inc. slid almost 7%. The electric carmaker’s losses outpaced those of the broader S&P 500 Index, which ended the day down 0.8%.
While Musk’s wealth is the lowest it’s been since Aug. 26, the Tesla co-founder is still easily the richest of the handful of people worth at least $100 billion, according to the Bloomberg Billionaires Index. Amazon.com Inc.’s Jeff Bezos is second at $127.8 billion.
Musk, 50, last dipped below the $200 billion threshold in March. But markets promptly staged a rally, lifting his net worth to $288 billion on April 4, according to the wealth index.
That was the same day that Musk disclosed he’d acquired about 9% of the social media platform Twitter Inc. Days later he launched a takeover bid and eventually secured the board’s approval, but doubts over the acquisition have grown amid a tech stock rout that’s dragged down both companies’ shares.
https://www.msn.com/en-us/money/other/elon-musk-drops-out-of-200-billion-club-again-as-tesla-tumbles/ar-AAXG6RQ
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