Speaking of billionaire problems, Elon Musk had a week to forget, and his fortune has plummeted since he struck the iconic Saturday Night Live (SNL) show in the US last week.
Why did Elon Musk lose so much money this week?
It was an eventful day for the tech geek who was born in Pretoria. During his hosting role at SNL, he openly discussed the concept of cryptocurrencies in front of millions of viewers. After Elon Musk talked about Bitcoin and Dogecoin, Elon Musk suggested that the latter was a hassle – and accidentally wiped off 30% of its rising value.
He then did the same trick in the middle of the week, only this time Bitcoin was the victim. His decision to block BTC transactions for Tesla cars sent the market nosedive, and with it, Musk’s valued net worth plummeted – by about 12.5%.
Bad Week for a Billionaire: What’s Elon Musk’s Net Worth Now?
(All figures from Forbes)
- – Have shares in Tesla 15% liked it so far this week.
- – This happened after Musk tweeted that the company would no longer accept Bitcoin payments.
- – His Concerns about the environmental impact of cryptocurrencies wiped BILLIONS of his fortune.
- – From Friday, May 14th, the self-proclaimed “dog father” is $ 20 billion DOWN from that time last week.
- – His fortune is estimated at $ 145 billion today, up from $ 165 billion seven days ago. How is he going to handle it, right?
- – For everyone who wants that in Rand: Musk lost nearly R300 billion, from R2.33 trillion to R2.04 trillion.
SNL appearance, crypto jitter blamed for the intrusion of assets
The loss of shock that still makes Elon Musk rich beyond his wildest dreams suggests dissatisfaction with the 49-year-old’s irrational moves. Just yesterday, the value of a tweet he made in favor of Dogecoin soared again – causing critics to question the stability of a market that can be influenced by a man’s online posts.
Due to its falling value, the Space X founder is only the THIRD richest person in the world – he trades with the retail mogul Bernard Arnault. Jeff Bezos is still the richest citizen in the world with $ 177 billion in the bank.