Elon Musk loses US$15bil in a day after bitcoin warning

Lower value: Bitcoin, which has surged more than 400% over the past year, tumbled for a second day yesterday, at one point slipping below US$50,000 on scepticism over the durability of its rally. — AP

NEW YORK: Elon Musk is no longer the world’s richest person after Tesla Inc shares slid 8.6% on Monday, wiping US$15.2bil from his net worth.

Tesla’s biggest decline since September was fuelled in part by Musk’s comments over the weekend that the prices of bitcoin and smaller rival ether “do seem high.”