Elon Musk's fortune takes a $50B hit in two days
The decline means Musk’s lead over Jeff Bezos as the world’s richest person has narrowed to $83 billion
Elon Musk asks Twitter for stock advice
UBS managing director and senior portfolio manager Jason Katz on Elon Musk asking Twitter followers if he should sell Tesla stock.
A weekend tweet by Tesla CEO Elon Musk is proving to be costly.
Musk asked his Twitter followers over the weekend whether he should sell 10% of his stake in the company.
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He has lost $50 billion so far this week after Tesla Inc. shares plunged for the second day in a row, according to Bloomberg.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 357.09 | +11.93 | +3.46% |
It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezo's $36 billion plunge following his divorce from MacKenzie Scott in 2019.
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The question was posed as part of a Twitter poll.
The poll, which garnered more than 3.5 million votes closed Sunday, with nearly 58% in favor of Musk’s proposition and more than 42% against the idea.
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The decline means Musk’s lead over Bezos as the world’s richest person has narrowed to $83 billion. Musk passed the Amazon.com Inc. founder for the first time in January.
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Musk’s fortune is still up 70% this year.