Elon Musk: why his fortune was reduced after the purchase of Twitter

doElon Musk still the richest person in the world? The multi-million dollar purchase of Twitter made by the founder of Tesla and SpaceX companies, dealt a severe blow to his fortune. What happened?

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Forbes magazine proclaimed, last March, that the American tycoon Elon Musk is the richest man in the world in 2022 with a fortune of US$219 billion. Most of his wealth comes from Tesla, where he has a 21% stake.

The billionaire, precisely to make the historic purchase, has pledged part of the shares he owns in the electric car company, which has not been well seen by the other shareholders.

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HOW MUCH DID ELON MUSK’S FORTUNE DECLINE?

After the board of directors of gave the greens to Elon Musk to buy from the social network of the little blue bird for US$44,000,000, Tesla shares fell 12% on Wall Street, which caused US$130,000,000 to be erased from the market capitalization of the automotive company and US $29,000,000 of Musk’s fortune in less than a day.

However, this did not dethrone Musk as the richest person in the world, as he was left with an estimated value – according to the real-time tracker of the version of – US$239,200,000. The South African, nationalized American, surpassed on that day by US$74,000,000 the founder of Amazon, Jeff Bezos (US$165,000,000). Musk had $268 million on Monday, April 25, before the Twitter purchase was confirmed.

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Elon Musk at the opening of the new Tesla manufacturing plant on March 22, 2022 in Germany. (Photo: Getty)

WHY DID ELON MUSK’S FORTUNE DECLINE AFTER THE PURCHASE OF TWITTER?

In addition to the fact that Elon Musk has had to fork out money from his own funds for the purchase of Twitter, where he has 92 million followers, the biggest problem has been the nervousness of the shareholders of . They wanted to run away, causing not only Tesla shares to fall, but also other large technology companies included in the Nasdaq index, a day after the purchase of the social network.

What is your reaction to? With most of Musk’s fortune coming from his 21% stake in Tesla, shareholders see Twitter as a new distraction for the billionaire, who is already CEO of Tesla and rocket company SpaceX.

HOW MANY TWITTER FOLLOWERS DOES ELON MUSK HAVE?

Elon Musk, the richest man in the world, has 92 million followers on his Twitter account, where he posts messages continuously. He even battled for the purchase of the little blue bird’s social network, he informed her through his account.

His posts have caused controversy, including being banned by the US Securities and Exchange Commission from tweeting about Tesla affairs, after one tweet wiped $14 billion from its stock price. On another occasion he was sued for defamation after a tweet in which he called a diver who participated in the rescue of a group of boys in a cave in Thailand in 2018 a “pedophile” (a case that Musk ultimately won).

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