Tesla shares dropped by 8.6 per cent yesterday, wiping off $15.2 billion (around €12.5 billion) from CEO Elon Musk’s net worth in a single day. As a result, he no longer holds the top spot of the richest person in the world, according to Bloomberg’s Billionaires Index.
The cause of Tesla’s decline is partly due to Musk’s own doing, according to reports, after the CEO tweeted about the prices of Bitcoin and Ether, which “do seem high”, he wrote. This follows an announcement by Tesla two weeks ago that it had bought $1.5 billion in Bitcoin.
Musk has therefore ceded his place as richest person in the world to Amazon Founder Jeff Bezos according to the Bloomberg Billionaires Index of the world’s 500 richest people, with a net worth of $183.4 billion.
Although Bezos’s fortune has also declined by $3.7 billion, his net worth is still the highest at $186.3 billion.
Musk and Bezos have been trading places in the top spot over recent weeks, with Musk briefly overtaking the Amazon chief at the beginning of the year, after holding the position for three consecutive years.
Adrian Galea responds to EU Inc. criticism, argues proposal could unlock growth for Malta
He believes it could represent a 'step function improvement' for Europe’s startup ecosystem.
KM Malta ‘not insulated from market volatility,’ says Executive Chairman
David Curmi nonetheless stressed that the airline has measures in place to manage the risk responsibly.
Joseph Mifsud Grima named to Captive Review’s 2026 Forty Under 40 list
'I am incredibly honoured.'
Aġenzija Sapport CEO: ‘People underestimate what someone with a disability can bring to the table’
'Subtle double-takes, lowered expectations, and quiet assumptions.'
