Tesla Shares Continue To Fall After Elon Musk Lost $ 15 Billion In A Single Day

Tesla Shares Continue To Fall

Elon Musk, the manager of Tesla Elon Musk, has lost his first place among the richest people in the world, after the recent decline in the share of the company that makes vehicles that use electric vehicles, where he got the most wealth.

Tesla’s Elon Musk is no longer the richest person in the world today after the electric car company’s shares fell 8.6% on Monday, shedding $15.2 billion from his fortune.

Tesla Shares Have Fallen

Tesla shares have fallen more than 20% since reaching more than $880 per share in early January. They fell sharply this week after the company recently lost more than 15 billion dollars in Bitcoin. The decline of Elon Musk’s business has led Jeff Bezos to once again become the richest person in the world and lead the list of billionaires.

The risk associated with Bitcoin’s recent downward trend has raised the possibility that some Tesla investors will sell their shares even if the company is not hurt by the decline, according to security analyst Dan Ives. ah.

The decline in Bitcoin over the past 48 hours has forced some investors to sell their holdings. The price of Bitcoin rose 50% in the weeks after Telsa announced that it had bought shares worth 1.5 billion dollars and agreed to pay that amount. But Bitcoin is down 20% since Sunday, which is still higher than when Telsa bought its stake.

Musk, who is behind the rise of Bitcoin, also blames himself for the recent decline in Bitcoin. At the end of last week, Musk announced on Twitter that the price of Bitcoin has increased. US Treasury Secretary Janet Yellen also said that money is being withdrawn at a rapid pace, which seemed to warn Bitcoin.

Musk’s Investment In Bitcoin

Musk’s investment in Bitcoin comes as Telsa faces other challenges. The company recently halted sales of the Y SUV, which Musk had planned to advance between sales of the various models.

At the beginning of this month, Chinese lawmakers called on the company. Jeff Bezos, the owner of the online marketplace Amazon, has been the richest man in the world since 2017. Elon Musk’s electric car company, Tesla, has reached a record high this year, and its value in The market reached 700 billion dollars for the first time on Wednesday.

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Mr. Bezos’s Online Retailer Amazon

The billionaire, who last month surpassed Amazon founder Jeff Bezos to become the world’s richest person, has returned to second place with an estimated $183bn behind Jeff Bezos who now has $186.3bn.

Mr. Bezos has also benefited financially from the coronavirus restrictions, as his online retailer Amazon has made a lot of money from people shopping at home. But he gave 4% of his business to his ex-wife, MacKenzie Scott, after they separated, which helped Musk become super rich.

During the last year of 2020, a sum of $140 billion dollars has been added to the wealth of Elon Musk. As reported by Bloomberg media, this rich man’s wealth was $167 billion dollars last Monday. In November he surpassed Bill Gates, becoming the second richest person in the world. According to Forbes magazine, Musk became the person who made the most wealth in one year, while the magazine conducted the evaluation.

Have You Ever Thought Of Being Rich?

Many people dream of becoming an entrepreneur but there are a few habits that hinder their progress. For example, many people think that learning ends the day they graduate from college, whereas successful business people know that learning never stops.

Frequently Asked Questions:
How Much Cash Did Elon Musk Lose In One Day?

It’s rare that a wealthy person gets 100% of his fortune worn out in a very day and still remains the richest person in the world. Musk became the primary person in history to cross the $300 billion threshold in a Gregorian calendar month when Tesla shares closed at a record $1,208.

Will Tesla Stock Drop If Elon Sells?

“If Elon Musk were forced to sell shares of our ordinary shares that he has pledged to secure bound loan obligations, such sales might cause our stock value to say no,” Tesla same in its annual filing.

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