Elon Musk Loses $16 Million; it is undoubtedly a wild swing and considered one of the biggest single-day wipe out in the history of the Bloomberg Billionaire Index. He has been dropped out of the centibillionaire club. The sudden plunging of stock shares in Tesla has led Musk to lose his assets. The world’s wealthiest people are witnessing wild swings, but the situation is turning out to be more complicated for retail buying companies. However, along with Musk, the assets of Jeff Bezos have plunged by $7 Million, due to the fall of Amazon’s stock shares.Image Credit: Quartz
However, on the other end, Zhong Shanshan’s Net Worth has been increased by $30 billion, making him the third richest person in China. Shanshan’s gain and Musk’s loss pave the way for a different economic equilibrium, and experts consider it the biggest move in history.
Elon Musk still falls at number fifth, while CEO of Louis Vuitton Bernard Arnault stays ahead of him by being at number fourth.
Back in 1995, Musk started his first business venture, Zip2, with his brother Kimbal. During his struggling period, he didn’t have enough money to afford an apartment and sleep in his office. But later on, the company became successful. Later on, he conceived the idea of Mars Oasis. Moreover, Tesla company came into being in 2003; later on, it was joined by Elon Musk. The innovation and advanced technology led the company to the next level, and it became the world’s biggest electric car giant.
Elon Musk, who belongs to Pretoria, South Africa, and made his fortune from different business ventures.
It was predicted that Musk is going to overtake Jeff Bezos in terms of Net Worth, but things are turning on a different dimension; it is said that the youngest billionaire in the world is a workaholic and does not spend money on hobbies and vacations. It is said that he works for 120 hours in a week. The sudden fall in his Elon Musk Net Worth by $16 Million, and it is estimated that his current net worth is around $82 Billion.