Elon Musk loses $15 billion in a day after Bitcoin warning
Elon Musk is no longer the world’s richest person after Tesla Inc. shares slid 8.6 percent on Monday. It straight away wiped $15.2 billion from his net worth.
Tesla’s biggest decline since September was fueled in part by Musk’s comments over the weekend that the prices of Bitcoin and smaller rival Ether do seem high.
Musk drops to second on the Bloomberg Billionaires Index of the world’s 500 richest people with a net worth of $183.4 billion. Amazon.com Inc. founder Jeff Bezos reclaimed the top spot even as his fortune fell by $3.7 billion to $186.3 billion.
The market selloff on Monday hit many of the world’s ultra-rich. Zhong Shanshan, Asia’s wealthiest person, was the second-biggest decliner on the Bloomberg index, dropping by US $5.1 billion as his bottled-water company fell 4.5 percent. Colin Huang of Pinduoduo Inc., Reliance Industries Ltd.’s Mukesh Ambani and Tencent Holdings Ltd.’s Pony Ma all lost more than US$2.5 billion each.