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Business News/ News / World/  Elon Musk net worth drops below $200 billion again as Tesla share price tumbles
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Elon Musk net worth drops below $200 billion again as Tesla share price tumbles

Elon Musk net worth has once again fallen below $200 billion

Last time, when Elon Musk net worth fell below $200 billion was in March 2022 after the market crash (REUTERS)Premium
Last time, when Elon Musk net worth fell below $200 billion was in March 2022 after the market crash (REUTERS)

Elon Musk net worth: After near 7 per cent crash in Tesla share price on Tuesday, Elon Musk has fallen out of the elite $200 billion club. On Tuesday, Tesla shares continued to remain under the sell-off heat that led to slump in Elon Musk's net worth by 5.40 per cent to $192.7 billion, hitting its lowest levels since 26th August 2021. However, Tesla CEO is still on the top of the list of Bloomberg Billionaires Index. Amazon.com Inc's Jeff Bezos is placed at number two spot with $127.80 billion wealth.

Last time, when Elon Musk net worth fell below $200 billion was in March 2022 after the market crash. However, Tesla co-founder pared his losses after markets rebound strongly after that crash. This rebound lifted Elon Musk's net worth up to $288 billion on 4th April 2022, the day when Musk had announced that he had acquired 9 per cent stake in twitter. However, few days later Tesla co-founder launched a takeover bid and eventually secured the board’s approval, but doubts over the twitter acquisition have grown amid a tech stock rout that’s dragged down both companies’ shares.

Elon Musk said earlier in May 2022 that twitter deal would be on hold until twitter produced public proof about the number of accounts on the platform controlled by bots. Twitter maintains the purchase is moving forward as planned.

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Published: 25 May 2022, 06:47 AM IST
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