The multi-billionaire Elon Musk has lost the status of the world’s richest person after an unfortunate 8.6 % decline in Tesla’s shares on Monday.
The decline in its most successful business shares left the billionaire with a decline of $15.2 billion from his net worth. Musk Tweeted on the weekend, stating that the prices of Bitcoin and its rival do seem high, apparently resulted in the decline in his total worth. His Tweet was bound to hurt Tesla, given that it made a $1.5 billion investment just a week ago.
Bloomberg calculated musk’s total net worth at $210 billion in January. However, as per Bloomberg’s latest update, his worth dropped $15.2 billion, leaving Musk at the second spot with the remaining net worth of $183.4 billion, respectively.
Bitcoin, which has seen a rise of more than 400% in the previous year, continued to slide for a second consecutive day on Tuesday. At one point, it reached below the $50,000 mark. The slide continued simultaneously to Tesla shares that continued their slide in early trading in New York, decreasing by 5.2% to $677.50.
Bloomberg, however, has marked this as Musk’s gaming up on Twitter. Its financial media reporting section said, “Elon Musk has upped his Twitter game, sending holders of Bitcoin and Tesla Inc. scrambling during another bout of self-reflection.”
Musk has been hurting the price of his own shares with such tweets earlier as well. The news might appear as a huge lost beard by the multi-billionaire, but it might get him greater advantages in the days to come.