By Elon Musk Lost $9.1 Billion This Year; No Longer the Second Richest Person in World
Tumbling Tesla stocks knocked Elon Musk out of the position of the world’s second-richest person on Monday. With the electric vehicle maker’s shares falling 2.2% on May 17, Tesla Inc.’s chief executive officer lost his spot to Louis Vuitton chairman Bernard Arnault.
Musk, who held the top spot in the Bloomberg Billionaires Index till March, now has a fortune of $160.6 billion. His net worth was down 24% from its January high.
Bitcoin fell to a three-month low on Monday on the account of investors selling and buying the digital currency after Elon Musk tweeted about the carmaker’s bitcoin holdings. Bitcoin fell to as low as $42,185, its lowest since Feb. 8, and was last down 6.2% at $43,564.
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