Oh, to be THIS rich: Elon Musk lost an eye-watering amount of money yesterday, and yet, he still has $183 billion in the bank. This day of misfortune also saw the Pretoria-born tech whizz lose his status as the world’s richest person, after an ill-judged Tweet saw his net worth drop by just over 7%.
What is Elon Musk’s net worth?
In total, it’s understood that Elon Musk lost $15 billion over the past 24 hours – almost R220 billion – largely thanks to his own Tweets. His electric vehicle company Tesla has invested $1.5 billion in the digital currency Bitcoin, but the entrepreneur cast doubt over the true value of certain crypto brands.
On Friday, Musk sought to defend his company’s investment – and contrasted bitcoin with some traditional fiat currencies; “When fiat currency has a negative real interest, only a fool wouldn’t look elsewhere,” he Tweeted in reference to his company’s move into bitcoin. However, it was this post that saw Tesla’s shares slide by 8.6%.
Twitter troubles: How Elon Musk talked himself out of $15 billion
That said, BTC & ETH do seem high lol
— Elon Musk (@elonmusk) February 20, 2021
Jeff Bezos returns as ‘world’s richest man’
Elon Musk is now replaced at the top of the tree by Jeff Bezos, whose net worth is estimated to be $186 billion. That’s $3 billion more than the SpaceX founder’s newly adjusted fortune, but the pair continue to swap places in the battle for the coveted number one spot. It’s also worth remembering that Musk has seen his net worth soar over the past 12 months.
Worth less than $30 billion last February, rapid progress with both Tesla and SpaceX saw his estimated fortune explode, pushing the $200 billion mark earlier this month. Before toppling Bezos, the Amazon founder had enjoyed an uninterrupted three-year spell as the world’s richest person. The pair are currently worth a combined $369 billion (R5.4 trillion).
Tesla CEO #ElonMusk lost $15.2 billion in a day after Tesla's shares slid 8.6% after his tweet that prices of #Bitcoin and rival Ether 'do seem high'. He also dropped to second on Bloomberg Billionaires Index of the world's 500 richest people.
— Shaurya D Joshi (@ShauryaDJoshi) February 23, 2021