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Elon Musk loses 'world's richest man' title and $15 billion after posting THIS tweet

Wednesday, February 24, 2021 • Tamil Comments

Tesla and SpaceX CEO Elon Musk is no longer the richest person in the world as Amazon CEO Jeff Bezos reclaimed the top spot in the Bloomberg Billionaires Index of the world's 500 richest people. A single tweet from Elon Musk was all it took for the billionaire to lose $15.2 billion from his previous net worth of $210 billion.

Tesla saw its biggest one-day decline in its value since September 2020 after the company shares fell 8.6 percent on Monday following Elon Musk's tweet admitting that the prices of Bitcoin and smaller rival Ether "do seem high." Responding to an economist about bitcoin being 'BS,' Musk wrote, "An email saying you have gold is not the same as having gold. You might as well have crypto. Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both. That said, BTC & ETH do seem high lol." According to a Bloomberg report, Elon Musk's net worth had soared by over $150 billion just in the past one year, possibly making it the fastest bout of wealth creation in history.

The billionaire, who added over $100 billion to his wealth in 2020, surpassed Microsoft's co-founder Bill Gates just less than three months ago. About three-quarters of Elon Musk's net worth consists of Tesla shares, valued more than four times as much as his stake in Space Exploration Technologies Corp., also known as SpaceX. Elon Musk has now dropped to the second spot on the Bloomberg Billionaires Index with a net worth of $183.4 billion.

 

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