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ELON Musk’s net worth fell $ 16.3 billion on Tuesday, the biggest single-day drop in the history of the Bloomberg Billionaires Index, as the defeat of Tesla Inc. continued.
The electric carmaker fell 21% in New York trading, the most ever recorded, on news of a partnership between competitors Nikola Corp. and General Motors Co., deepening a sell-off that began the week. passed after it was rejected for inclusion in the S&P. 500 index.
The richest people in the world have seen wild swings in their net worth as of late as retail traders accelerate the buying and selling of stocks. Jeff Bezos of Amazon.com Inc. lost $ 7.9 billion on Tuesday, while Zhong Shanshan added more than $ 30 billion to his fortune, making him the third-richest person in China, after the shares of the company. bottled water company he founded will rise after an initial public offering.
Shares in Nongfu Spring Co., whose red-top bottles are sold in China everywhere from family snack stands to high-end hotels, rose 54% in its Hong Kong debut, leading to Zhong’s fortune. to $ 50.9 billion. After opening lower, the stock was up 3.5% at 10:38 am local time on Wednesday.
Musk’s loss and Zhong’s gain are the largest moves in the history of the Bloomberg index, excluding net worth reviews for divorce, redistribution and inheritance. Musk’s fall would have been even greater had he not cashed in on his third tranche of options on Tuesday, now worth $ 2.2 billion, tied to his moon compensation package.
Musk, who is now worth $ 82.3 billion, fell behind Bernard Arnault in fifth place on the list of the world’s richest people. The Tesla CEO briefly joined the rarefied centibillionaire club last month, thanks to his bold salary package and a nearly 500% rally in Tesla shares from January through the end of August. – Bloomberg
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