Elon Musk Lost A Record $16.3 Billion In 1 Day After Tesla Shares Plummet
On Wednesday (Sept. 9), the world’s third richest man and Tesla and SpaceX CEO Elon Musk lost a record $16.3 billion after Tesla shares plummeted 21% — proving to be the company’s worst daily performance in its 17-year history, and largest deletion of the value of a billionaire’s wealth in history.
Bloomberg reported that Musk, whose net worth recently calculated up to a cool $115.4 billion, saw a whopping $16.3 billion deduction as the share price for his company fell to $330.21 on Wall Street. In Early September, the company’s single share was more than a third more expensive, selling for more than $498.
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The publication states that shares fell “on news of a partnership between competitors Nikola Corp. and General Motors Co., deepening a selloff that began last week after it was snubbed for inclusion in the S&P 500 Index.” Additionally, they reported Musk’s newest net worth at $82.3 billion, adding that he fell behind Bernard Arnault for, ranking in at number on the list of the world’s richest people.
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