The personal wealth of CEO Elon Musk fell below $200 billion on Tuesday as investors dumped shares of Tesla Inc. For now, investors are concerned that Elon Musk, Tesla’s CEO and largest shareholder, is increasingly focusing on Twitter.
According to the Forbes Rich List, Elon Musk now has a net worth of $194.8 billion. Much of Elon Musk’s wealth comes from his nearly 15% stake in Tesla, which has a market value of $622 billion.
Since Elon Musk began seeking to acquire Twitter in April, Tesla’s market value has evaporated by nearly half, and Elon Musk’s net worth has fallen by $70 billion (about 507.5 billion yuan). According to the Bloomberg Billionaires Index, Elon Musk’s net worth is down 48% ($1,183 billion) from a peak of $340 billion a year ago.
Now that Tesla is expanding production and facing increasing competition, investors worry that Elon Musk will be overwhelmed by running too many companies. “Elon Musk seems to be spending 100% of his time on Twitter, you know, it probably needs more money,” said Jay Hatfield of Infrastructure Capital Management.
Elon Musk remains the world’s richest man, however, with a net worth about $40 billion higher than the second-placed Louis Vuitton chairman, Bernard Arnault.
