Elon Musk’s Net Worth Sinks To Two-Year Low As Twitter CEO Loses $7.7 Billion: Report

After Twitter CEO Elon Musk lost his spot as the world’s richest person last week, his net worth continue to sink even low. On Tuesday, Elon Musk’s net worth dipped by $7.7 billion after Tesla’s share saw its steepest one-day loss since October, reported Bloomberg. 

The Tesla co-founder and CEO Elon Musk’s net worth is now $147.7 billion, the lowest in more than two years, according to the Bloomberg Billionaires Index. This makes Musk’s losses to date about $122.6 billion. 

On Wednesday, Twitter CEO Elon Musk announced that he will resign from his post as soon as he finds someone “foolish enough to take the job”. Musk posted a poll on Twitter asking users to vote on whether he should step down as head of the social platform. Almost 58 per cent of respondents said he should. 

Last week Musk lost his title of the world’s richest person to French businessmen Bernard Arnault. Musk’s woes started when he took over the microblogging platform Twitter in October. Musk sold 19.5 million shares of his electric car company Tesla worth $ 3.95 billion as he closed his $44 billion acquisition of Twitter. 

Also See: IN PICS | After Elon Musk Loses Top Spot, Here is How World Rich List Looks Like

Elon Musk’s fortune is comprised of his shares in Tesla and SpaceX. Musk owns about 13 per cent of Tesla. He also holds about 279 million exercisable stock options. Musk owns about 47 per cent of SpaceX.

Shareholders of Tesla have expressed caution over Musk’s preoccupation with Twitter.