Elon Musk ranks second in the Bloomberg Billionaires Index of the world’s 500 richest people

Elon Musk is no longer the richest person in the world after Tesla Inc shares slipped 86% on Monday, wiping $ 15 2 billion from his net worth

Tesla’s biggest drop since September was in part fueled by Musk’s comments over the weekend that the prices of Bitcoin and its little rival Ether “appear high” His post – via his favorite medium of Twitter – came two weeks after Tesla announced it had added $ 1.5 billion of Bitcoin to its balance sheet The cryptocurrency, which has jumped more than 400% in the past year, fell for a second day Tuesday, slipping below $ 50,000 at one point due to skepticism about the sustainability of its rally

Musk also tweeted earlier Monday that the company’s standard Model Y line-up SUV would still be available “off the menu,” confirming reports from electric vehicle news site Electrek that the model was removed from its online configurator

Musk Rises to No.2 in Bloomberg Billionaires Index of the World’s 500 Richest People with a Net Worth of $ 183 4 Billion – from a High of $ 210 Billion in January Amazonecom Inc Founder Jeff Bezos has taken over first place even as his fortune fell from $ 3 7 billion to $ 186 3 billion on Monday

The two billionaires have switched places since January as Tesla’s value fluctuated Stock jumped 25% to start 2021 before wiping out almost all of this year’s gain Musk briefly overtook Bezos after his company SpaceX rockets raised $ 850 million earlier this month, valuing the company at $ 74 billion, a 60% jump from August

Bezos held the top spot for three consecutive years before January, when Musk eclipsed the e-commerce titan with a 794% rally in Tesla shares

Monday’s market sell-off hit many of the world’s ultra-rich Zhong Shanshan, Asia’s richest person, was the second-largest decline in the Bloomberg Index, falling $ 5 billion then that his bottled water company fell 45% Colin Huang of Pinduoduo Inc, Reliance Industries Ltd’s Mukesh Ambani and Tencent Holdings Ltd’s Pony Ma all lost over $ 2.5 billion each

(Except for the title, this story was not edited by NDTV staff and is posted from a syndicated feed)

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World News – FI – Elon Musk loses world’s richest tag as Tweet costs him $ 15 billion

Source: https://www.ndtv.com/world-news/elon-musk-loses-15-billion-in-a-day-after-his-own-bitcoin-warning-2376759