Monday, April 19, 2021
No menu items!
Home NEWS Elon Musk loses $27billion in just one week and falls behind Jeff...

Elon Musk loses $27billion in just one week and falls behind Jeff Bezos to become the world’s second-richest man

Elon Musk loses billion in just one week and falls behind Jeff Bezos to become the world

Tesla’s CEO, Elon Musk has lost $27 billion in wealth in the space of one week amid a selloff in the company’s stock.

 

Musk, 49, was worth $157 billion after markets closed on Friday, marking a 15 percent plunge in his net worth from the beginning of the week, according to the Bloomberg Billionaires Index.

 

He is now firmly in the No. 2 spot and $20 billion CEO Jeff Bezos, after vying for months with Jeff Bezos for the title of world’s richest man

 

This comes after a reported rapid selloff in the tech sector, with Tesla shares hit harder than most and falling nearly a third from their all-time peak in January.

 

Tech shares soared more than the rest of the market for much of the pandemic. But on Friday, the company’s shares dropped as much as 13% before closing down 3.8% at $597.95, the lowest since Dec. 3. The stock lost 11% of its value just this week, extending its losing streak to four weeks, the longest since May 2019.


LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

European Super League: Uefa and Premier League condemn 12 major clubs signing up to breakaway plans

Uefa, the Premier League and UK Prime Minister Boris Johnson have condemned 12 major European clubs, including the 'big six' from England, signing up...

Leicester City 1-0 Southampton: Kelechi Iheanacho earns Foxes first FA Cup final spot since 1969

Leicester City reached their first FA Cup final since 1969 as Kelechi Iheanacho's second-half goal gave them victory over Southampton at Wembley. Iheanacho was the...

Two drug traffickers excrete 191 pellets of cocaine, heroin at Lagos Airport

Two suspected drug traffickers intercepted by operatives of the National Drug Law Enforcement Agency (NDLEA) at the Murtala Muhammed International Airport, MMIA, Lagos, have...

Man who gave woman a lift zooms away with her phone after collecting it to input his number

A Twitter user has shared an unpleasant experience her friend had with a man who offered her a ride. According to @IsrealGeraldine, a man had...

Recent Comments