Elon Musk Loses $15 Billion in One Day | 22 Words

It has just been confirmed that, yet again, Elon Musk is no longer the world's richest person after he lost $15 billion in 1 day.

Yikes. Here's the full story...

Now, we all know that Musk was already a very wealthy man.

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Being the founder, CEO, and Chief Engineering Designer of not only Tesla but SpaceX too, he has an awful lot going for him.

Tesla is known for its state of the art engineering...

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With the company pioneering the future of electric car travel with Musk as its CEO.

And his other venture, Space X, is paving the way for the future of space travel.

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Space X became the first private company to successfully launch, orbit, and recover a spacecraft, as well as the first to send a spacecraft to the International Space Station (ISS).

So, of course, all of this has earned Musk a handsome sum over the last few years...

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With the CEO holding a net worth of $169.1 billion as of last year, according to Forbes.

Quite the achievement, I know!

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Musk surpassed Facebook founder and CEO, Mark Zuckerberg, in the world's richest list after Tesla was selected to join the S&P 500, a stock market index that measures the performance of five-hundred large companies listed on the U.S stock exchange, at the end of last year.

This means that Musk was then left with only 2 men to compete with financially...

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Bill Gates and Jeff Bezos.

But it was quickly realized that he didn't need a lot to surpass Microsoft's co-founder for second place.

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The statistics showed that Musk only needed another $8 billion to knock Gates out of 2nd place.

And $8 billion really isn't too unachieveable when you're already a billionaire...

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So many of us weren't too surprised when, even one week after Tesla's induction to the prestigious S&P 500, Musk's net worth soared to $127.9 billion, while Gates' lagged behind.

Last year alone, his fortune grew by $100.3 billion.

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Experts say it was a result of Tesla's share price rising, which he owns a twenty percent stake of.

However, there was one man who even Musk couldn't beat...

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... Jeff Bezos.

Well, until this year that is...

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Musk saw a jump of 4.9 percent for the stock price of Tesla - an increase that came just days after finishing the first trading session of the year where they saw an increase of 3.4 percent.

Musk's net worth subsequently soared a few months ago to a staggering $188 billion, as per Bloomberg's Billionaires Index.

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And with Jeff Bezos' net worth standing at $187 billion, Elon Musk was ultimately placed as the worlds richest man.

A great achievement for Musk!

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And of course, he went about the news in the most typical "Elon Musk" way.

In response to the news, he simply tweeted, "How strange"...

Before adding, "Well back to work."

But, unfortunately for Musk...

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Things don't last forever!

Jeff Bezos has officially regained the title as the world's richest person...

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Because Musk has just lost a staggering $15 billion. Yikes.

The value of Tesla stock has been fluctuating, yet again...

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And yesterday, Tesla Inc. shares slid by 8.6 percent wiping $15.2 billion from Musk's net worth, according to Bloomberg.

Tesla's biggest decline since September was fueled in part by Musk's comments over the weekend that the prices of Bitcoin and smaller rival Ether "do seem high."

His message - via his favored medium of Twitter - came 2 weeks after Tesla announced it added $1.5 billion in Bitcoin to its balance sheet.

Of course, Musk isn't struggling at all...

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Because to someone like him, $15 billion isn't a huge hit!

So we're pretty sure that Musk will be back in the lead as the world's richest man!

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Stay posted for updates on this developing story.