Dazing Celebrities

This is why Elon Musk lost Billions in one day

On Wednesday 9th September, Elon musk lost billions of dollars in a single day. All of this happened in a matter of hours. 16.3 billion dollars were lost by Elon Musk,  snatching from him the title of 3rd richest man. Elon musk’s net worth has been significantly damaged by this incident.

After this incident, the Bloomberg Billionaires Index has made him ranked on the 6th position of world richest man.  This is the largest drop in the capital in the history of the Bloomberg Billionaires Index. Sources have pointed out that the reason behind the plummeting of a huge amount of wealth was the news of a partnership between General Motors Co. and  Nikola Corp. Just last month, Elon musk’s net worth was increasing at blazing speed and had reached around 115 billion dollars and made him the third richest billionaire on earth. Tesla was worth 420 billion dollars before this incident and now the worth has dropped to 308 billion dollars. But the fact is that it’s not only Elon Musk who bore the maximum loss.

Other billionaires including Bill Gates, Mark Zuckerberg and Jeff Bezos have also lost a significant amount of wealth. Bill gates had to face a loss of 2.05 billion dollars, Mark Zuckerberg had to face a loss of 4.26 billion dollars and 7.94 billion dollars were lost by Jeff Bezos. Among all of it,Elon musk’s net worth has faced the biggest challenge.

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