Tesla shares fall: Elon Musk loses 182 billion rupees in one day

Elon Musk has once again exited the $ 200 billion club.

Musk, the richest person in the world, saw his fortune drop 5.4% on Tuesday to $ 192.7 billion as shares of Tesla Inc. fell nearly 7%. The electric carmaker’s losses outstripped those of the broader S&P 500 index, which ended the day down 0.8%.

Although Musk’s wealth is the lowest since Aug. 26, according to the Bloomberg Billionaires Index, Tesla’s co-founder is still easily the richest of that handful of people worth at least $ 100 billion.

Amazon.com Inc.’s Jeff Bezos is second with $ 127.8 billion.

Musk, 50, last dropped below $ 200 billion theshold in March. But the markets promptly staged a rally, taking his net worth to $ 288 billion on April 4, according to the wealth index.

That was the same day Musk revealed that he had acquired about 9% of the social media platform Twitter Inc.

Days later he launched a takeover bid and ultimately secured board approval, but doubts about the takeover grew amid a scrapping of tech stocks that dragged both shares lower. company.

Musk said earlier this month that the deal would be suspended until Twitter produced public evidence of the number of accounts on the platform controlled by the bots. Twitter claims the purchase is progressing as expected.

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