Elon Musk loses US$50bil in two days in record wealth plunge

Big loss: Musk walks next to a screen showing an image of a Tesla Model 3 car in Shanghai. The drop in Tesla’s share price narrows Musk’s lead over Jeff Bezos as the world’s richest person to US$83bil (RM344.49bil). — Reuters

NEW YORK: Elon Musk has lost US$50bil (RM207.53bil) so far this week after Tesla Inc shares plunged for the second day in a row.

It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezos’s US$36bil (RM149.42bil) plunge following his divorce from MacKenzie Scott in 2019.