Image Credit source: Twitter
Elon Musk’s wealth has decreased by $ 11.1 billion, or Rs 86,056.97 crore, due to the fall in Tesla shares. So far this year, his total wealth has decreased by $ 77.6 billion.
richest man in the world Elon Musk ,Elon Musk) Total have been out of the $ 200 billion club. Musk’s wealth has fallen below $200 billion after Tesla’s stock price fell nearly 7 percent on Tuesday. Musk’s net worth fell 5.40 percent to $192.7 billion due to the sale of Tesla shares. This is the lowest level since 26 August 2021. However, the Tesla CEO still tops the list of Bloomberg Billionaires Index. Amazon Inc.’s Jeff Bezos (Jeff Bezos) is second with a net worth of $ 127.80 billion.
The last time Elon Musk’s net worth fell below $200 billion was in March 2022, when the market crashed. However, the Tesla co-founder made up for his loss after a strong return to the markets after that fall. After this, on April 4, 2022, Elon Musk’s net worth increased to $288 billion. On this day, Musk announced the purchase of a 9 percent stake in Twitter.
However, a few days later Tesla’s founder made a bid to buy Twitter and which was approved by the Twitter board, but the Twitter acquisition has raised doubts due to the fake account, which caused the shares of both companies to fall.
Twitter deal on hold
Elon Musk said in May 2022 that the Twitter deal would be on hold until Twitter provided public evidence about the number of accounts on the platform controlled by bots. Twitter says purchases are proceeding as planned.
Updates on Twitter deal-
- Musk began buying Twitter stock in January. On March 14, he announced a 9.2 percent stake in the company.
- On April 5, Twitter CEO Parag Agarwal announced that Musk would join Twitter’s board of directors. On 10 April, Agarwal announced that Musk had decided not to join the board.
- On April 4, Musk offered to pay $54.20 per share to buy the company’s entire stock.
- On April 15, Twitter announced a shareholder rights plan to prevent Musk from acquiring the company.
- On April 21, Musk presented a detailed plan for funding the $44 billion deal.
- Twitter’s board accepted Musk’s proposal on April 25.
Jeff Bezos suffered a blow of $ 3.52 billion
The wealth of the world’s second richest Jeff Bezos has also decreased. His wealth dropped by $3.52 billion to $128 billion. So far this year, his total net worth has decreased by $ 64.6 billion.