Elon Musk's fortune takes a $50B hit in two days
Elon Musk asks Twitter for stock advice
UBS managing director and senior portfolio manager Jason Katz on Elon Musk asking Twitter followers if he should sell Tesla stock.
A weekend tweet by Tesla CEO Elon Musk is proving to be costly.
Musk asked his Twitter followers over the weekend whether he should sell 10% of his stake in the company.
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He has lost $50 billion so far this week after Tesla Inc. shares plunged for the second day in a row, according to Bloomberg.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 1,076.26 | +52.76 | +5.15% |
It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezo's $36 billion plunge following his divorce from MacKenzie Scott in 2019.
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The question was posed as part of a Twitter poll.
The poll, which garnered more than 3.5 million votes closed Sunday, with nearly 58% in favor of Musk’s proposition and more than 42% against the idea.
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The decline means Musk’s lead over Bezos as the world’s richest person has narrowed to $83 billion. Musk passed the Amazon.com Inc. founder for the first time in January.
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Musk’s fortune is still up 70% this year.
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