Elon Musk

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.

Related

Glitnor Group Office

Sven de Waard joins Malta-based Glitnor Group as Head of Games

29 November 2022
by Fabrizio Tabone

He joins the iGaming firm after six years at Hero Gaming.

Annalisa Schembri elected to JCI International Board of Directors as Vice President

29 November 2022
by Fabrizio Tabone

The announcement was made during the 2022 JCI World Congress held in Hong Kong.

Sarah Stellini named CEO as Hero Gaming undergoes reorganisation

29 November 2022
by Fabrizio Tabone

She previously served as Commercial Director – All Markets at the iGaming firm.

Hotel Valentina’s Ivan Borg Ferrando joins Malta Hotels and Restaurants Association Council

28 November 2022
by Fabrizio Tabone

He was named General Manager at the hotel earlier this year.

Close Bitnami banner
Bitnami