W0W! How Elon Musk lost $15 billion, world title as richest man | READ DETAILS
chuks oti
Feb 23, 2021
Tesla CEO Elon Musk has been toppled as the world's richest person after losing US$15.2 billion from his net worth in one day.
READ ALSO: President Trump Unveils $1,000 Investment Account for All Babies Born Between 2025-2028
A tweet by Musk made Tesla shares slid 8.6 per cent on Monday, from the opening price of $760 to $714.50.
READ ALSO: Dr. Chima Anyaso Hosts Namibian Governor, Strengthens Africa's Economic Partnerships
Tesla's biggest decline since September was fuelled in part by Musk's comments over the weekend that the prices of bitcoin and smaller rival Ether "do seem high".
READ ALSO: PLATEAU IS BLOODY: 14 Killed,3 Injured By Underworld Men
His message - via his favoured medium of Twitter - came two weeks after Tesla announced it added US$1.5 billion in bitcoin to its balance sheet.
READ ALSO: How I Survived When Everyone Else Died" - Lone Survivor of Air India Crash Speaks
Musk also tweeted earlier Monday that the company's Model Y Standard Range SUV would still be available "off the menu", backing up reports from electric vehicle news site Electrek that the model had been removed from its online configurator.
READ ALSO: WATCH VIDEO: Delta State Pastor reveals how he paid N600k for his freedom from kidnappers
Musk drops to second on the Bloomberg Billionaires Index of the world's 500 richest people with a net worth of US$183.4 billion - down from a peak of US$210 billion in January.
READ ALSO: 2027: North should wait till 2031 to produce next president, says Shehu Sani
Amazon.com founder Jeff Bezos reclaimed the top spot even as his fortune fell by US$3.7 billion to US$186.3 billion Monday.
READ ALSO: Why Madagascar Soldiers Refused Orders to Shoot Protesters | WATCH VIDEO
The two billionaires have been swapping places since January as the value of Tesla fluctuated.
READ ALSO: We'll resist unconstitutional takeover of ADC in Kogi - Party group
The stock surged as much as 25 per cent to start 2021 before wiping off almost all of this year's gain.
READ ALSO: ABIA PANEL: How Police Beat Me till I passed Out, Charged Me For Hate Speech | READ IN FULL
Musk briefly overtook Bezos after his rocket company SpaceX raised US$850 million earlier this month, valuing the company at US$74 billion, a 60 per cent jump from August.
Related Stories
WHY Police Arrested Akon in Georgia Revealed: Full Details Emerge
Dr. Chima Anyaso Hosts Namibian Governor, Strengthens Africa's Economic Partnerships
Why Madagascar Soldiers Refused Orders to Shoot Protesters | WATCH VIDEO
Trump Speaks Out: Why U.S. May Join the Israel-Iran War | READ DETAILS
How I Survived When Everyone Else Died" - Lone Survivor of Air India Crash Speaks
President Trump Unveils $1,000 Investment Account for All Babies Born Between 2025-2028
""
— chuks oti