With the recent decline in Tesla’s stock price, the company’s CEO Elon Musk’s worth has once again fallen below $200 billion. Tesla shares fell 6.93% to close at $628.16 on Tuesday. Musk’s net worth shrank 5.4% that day to $192.7 billion, the lowest since Aug. 26 last year. The electric-car maker fell more than the S&P 500, which fell 0.8% on Tuesday.
Still, Musk remains at the top of the world’s richest list, as other tech billionaires have had a rough time of late.Amazon founder Jeff Bezos’ worth drops to $127.8 billion, still second.
Musk, 50, last fell below the $200 billion mark in March of this year. But the market bounced back quickly, and his net worth hit $288 billion on April 4.
That same day, Musk disclosed that he had acquired a roughly 9% stake in Twitter. Days later, he launched a takeover offer that was eventually approved by Twitter’s board, but skepticism of the acquisition grew as a slump in tech stocks dragged down both companies’ shares.
Twitter’s stock has now fallen below the level at which Elon Musk bought his stake, erasing more than $1.1 billion in profits he made in four weeks. . Twitter stock fell as much as 6.0% on Tuesday afternoon, heading for its lowest closing level since March 16. As of Tuesday’s close, Twitter’s shares fell slightly to 5.55% to close at $35.76.
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