Wed, 14 Apr 2021

  • Musk's topped Jeff Bezos last week as the world's richest person.
  • However, he has lost $27 billion since Monday as shares of Tesla tumbled.
  • Tesla shares had soared by a whopping 743% in 2020.

Elon Musk set records last year for one of the fastest streaks of wealth accumulation in history. The reversal is underway, and it's steep.

The Tesla chief executive officer lost $27 billion since Monday as shares of the automaker tumbled in the selloff of tech stocks. His $156.9 billion net worth still places him No. 2 on the Bloomberg Billionaires Index, but he's now almost $20 billion behind Jeff Bezos, who he topped just last week as world's richest person.

Extreme volatility has roiled many of the world's biggest fortunes this year. Asia's once-richest person, Chinese bottled-water tycoon Zhong Shanshan, relinquished the title to Indian billionaire Mukesh Ambani last month after losing more than $22 billion in a matter of days.

Source: News24

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