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Elon Musk’s wealth decreased by $27 billion this week

Elon Musk net worth

New Delhi: Elon Musk net worth: The Tesla CEO has lost $27 billion this week since Monday. This is because the prices of his company’s shares are falling drastically. Elon Musk set the fastest money-making record in the world last year. The time has now turned upside down. He is also losing his wealth very fast.

Tesla shares are being sold heavily

Tesla shares are currently being sold heavily. However, he is still the second richest businessman in Bloomberg’s billionaire list. His net worth is $156.9 billion. He is $20 billion behind Jeff Bezos of Amazon, the world’s richest businessman. That is, if the prices of Musk’s shares did not fall, they would have been on the list of the rich at number one.

The stock was up 7.43 times last year.

Tesla shares were up 743 per cent in 2020. This also increased Musk’s wealth. He made even more profits in the new year. In January, he defeated Bezos and crowned him as the richest person in the world. According to a ranking of the 500 wealthiest people in the world, his fortune was later elevated when his total wealth reached $ 210 billion in a month.

Investors also happy

The steady gains in every quarter and the rise in share prices also made retail investors happy. But as fast as the musk grew, he also faced many problems and challenges. The US Nasdaq 100 index closed for the third consecutive week on Friday. Such a decline has been observed continuously for a long time.

Bets on bitcoin

Musk’s fortunes continued to go up and down in the Bitcoin business as well. With the recent bitcoin prices, his net worth has also increased and decreased. Tesla revealed last month that it had $1.5 billion in cryptocurrency income in its balance sheet. Musk’s assets suffered a shock of $15 billion just two weeks later. He then stated on Twitter that the prices of bitcoin and other cryptocurrencies seem to be higher.

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