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Elon Musk lost $27 billion last week

Elon Musk’s net worth plummeted last week as tech stocks were hit and Tesla’s tremendous rise was quickly unraveled. Wall Street is becoming more and more nervous about rising bond yields, and borrowing can be more expensive. Investors have begun to reverse some of the positions they have taken in the past year with high-growth, high-risk tech stocks like Tesla, as it can cut into corporate profits. Tesla shares fell 11.5% last week. According to Bloomberg’s Millionaires Index, Musk, which owns almost 18% of Tesla’s stake, was struck by its massive sale. Mask’s wealth fell by $ 27 billion last week. According to Bloomberg, his decline in net value is about the same as the entire fortune owned by Dyson founder James Dyson, the 52nd wealthiest person in the world. The world since January. However, Musk is currently in second place with a net worth of $ 157 billion, compared to Bezos’ net worth of $ 177 billion. Musk surpasses Microsoft’s founder and third wealthiest person on the planet, Bill Gates, by $ 21 billion. Tesla’s share price rose 743% in 2020, ranking fifth on the list of the most valuable companies on the stock market. After losing 15% this year, Tesla’s share price fell to 7th place behind Facebook and Berkshire Hathaway before JPMorgan Chase. Even if Tesla’s stock price continues to fall, the mask will be much richer after 2021. Four grants to buy 8.4 million Tesla shares in 2020. Some of it was cut as Musk had to pay the exercise price, but each was worth $ 5 billion at the closing price on Friday. Mask will probably receive three additional option grants this year that are as big and lucrative as those received in 2020. Mask is not exercising any of his options. Executives usually exercise them when they expire or to release cash. Musk has never sold a stake in Tesla.

Of Elon Musk Net worth High-tech stocks were hit last week and plunged as Tesla’s tremendous rise soon became apparent.

Wall Street is becoming more and more nervous about rising bond yields, which can lead to higher borrowing. It can cut into the profits of the company. As a result, investors have begun to reverse some of their positions over the past year with high-growth, high-risk tech stocks like Tesla.

Tesla’s share price fell 11.5% last week. Mask, which owns almost 18% of Tesla’s stake, was struck by its massive sale.

Mask wealth It fell by $ 27 billion last week, according to the company. Bloomberg Billionaire Index.. According to Bloomberg, his decline in net value is roughly equal to the total wealth of Dyson founder James Dyson, the 52nd wealthiest person in the world.

Mask and Amazon CEO Jeff Bezos Exchange places Top of Bloomberg’s list of the wealthiest people in the world since January. However, Musk is currently in second place with a net worth of $ 157 billion, compared to Bezos’ net worth of $ 177 billion. Musk maintains $ 21 billion ahead of Microsoft founder Bill Gates. Bill Gates is the third wealthiest person on the planet.

Tesla’s stock grew 743% in 2020, ranking fifth on the list of the most valuable companies on the stock market. After losing 15% this year, Tesla’s share price fell to 7th place, behind Facebook and Berkshire Hathaway, but ahead of JPMorgan Chase.

Even if Tesla’s inventory continues to decline, masks will be much richer after 2021.

He received four grants to buy 8.4 million Tesla shares in 2020. Some of them would be scraped as the mask would have to pay the exercise price, but each of them was worth $ 5 billion at the closing price on Friday. Mask will probably receive three additional option grants this year that are as big and lucrative as those received in 2020.

Mask is not exercising any of his options. Executives usually exercise them when they expire or to release cash. Musk has never sold a stake in Tesla.

Elon Musk lost $27 billion last week Source link Elon Musk lost $27 billion last week

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