Elon Musk’s net worth dropped below $200 billion on Tuesday as investors sold Tesla shares.
Musk is now worth $194.8 billion, according to Forbes, with much of that coming from his nearly 15% stake in Tesla, which has a market value of $622 billion.
The company has lost nearly half its market value since he made an offer via Twitter in April.
Investors initially fled Tesla over concerns over Musk’s stock sale. He sold at least $15 billion before closing a $44 billion deal last month to buy Twitter.
Now Wall Street fears that Musk has tried too hard at a time when the electric vehicle maker is ramping up production and facing increasing competition.
“It looks like Elon Musk is spending 100% of his time on Twitter and you know, he might need more capital,” said Jay Hatfield of Infrastructure Capital Management.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
