Elon Musk lost $50 billion in a tweet.This was the cost of the poll posted on Twitter by the entrepreneur on Saturday, in which Musk asked users whether or not to sell 10% of his Tesla shares (after 3.5 million votes, he won the sale).
A $ 21 billion poll .
Elon Musk lost $50 billion in a tweet
The move was little appreciated by Wall Street, given that in two days Tesla shares lost 16 percent of their value, equivalent to $ 200 billion.
Investors, aware of Musk’s impending sale, dumped their shares in anticipation of the price drop.
Indeed, as in any market, the more shares are sold, the more their price drops. On the other hand, a CEO who sells shares in his own company does not offer an image of solidity and confidence.
The alleged coincidence of Elon’s brother, Kimbal Musk, selling $109 million worth of Tesla stock at full price just before the Twitter poll helped to shake confidence in the stock.
As did the report released by Michael Burry, the trader made famous by the movie “The Big Bet” accusing Musk of having to sell his securities to pay off some personal debts.
Musk “gets poorer”
The Wall Street collapse has also affected, at least for now, Elon Musk’s personal fortune of 300 billion, which has lost 50 billion on the Street in the last two days.
This is the second largest drop since Jeff Bezos lost $36 billion in a single day after his divorce with ex-wife MacKenzie Scott. Despite this, Musk remains, according to Bloomberg , the world’s richest man by detachment.
This is yet another case demonstrating the volatility of the wealth of the super-rich who choose to keep a large portion of their wealth in publicly traded stocks.
Also according to Bloomberg, Musk has 174 billion Tesla shares in his pocket, which represents the bulk of his wealth.
