the tycoon misplaced 27,000 million {dollars} in per week

After Tesla’s stock crash, Elon Musk’s net worth fell, widening the gap between SpaceX’s CEO and Amazon’s Jeff Bezos.

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March 8, 2021 3 min read

This article was translated using AI technologies from our Spanish edition. Errors can occur due to this process.

A few days ago, Elon Musk fell from second to third place in the Forbes billionaires ranking. There is no good news for the tycoon today either. The sharp collapse in Tesla shares reduced its CEO’s net worth, who lost nearly $ 27 billion in just one week.

Tesla’s share price has been down for four days in a row. This is partly due to a sell-off of technology stocks and a decline in the value of Bitcoin.

The electric car company invested $ 1.5 billion in Bitcoin on Feb. 8. The transaction was key to pushing the price of this cryptocurrency to a new all-time high of over $ 50,000 per unit. Shortly thereafter, however, it fell to $ 45,000, which resulted in losses for Tesla.

In 2020, Elon Musk broke a record for creating the greatest wealth in the shortest possible time in history. The pandemic bonanza made him the richest person in the world for a while before Jeff Bezos got over it again.

Since then, the CEOs of Tesla and Amazon have taken the top two positions in the Forbes billionaires rankings. Their wealth was almost the same and no very significant differences were found.

Everything changed on March 5th when Musk fell to third place with a net worth of $ 150.9 billion. An important drop, considering it wasn’t until Feb.17, it was $ 191 billion.

Tesla’s losses last week totaled around $ 27 billion. According to Forbes, Elon Musk has a net worth of $ 151.1 billion today. That’s a far cry from Bezos’ $ 178.2 billion, which remains in first place.

Everything indicates that the loss of Elon Musk’s plan to build the city of Starbase in Texas did not change. A few hours ago he shared a photo of the place with his partner, singer Grimes, and young son X AE A-Xii, 10 months old.

Starbase, Texas

– Elon Musk (@elonmusk) March 8, 2021

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