Elon Musk’s wealth – and Tesla’s stock – took a huge hit on Friday, continuing a downward spiral and possibly jeopardizing the billionaire’s acquisition of Twitter.
According to the Bloomberg Billionaires Index, Musk has lost $69.1 billion since the start of 2022. His net worth is now $201 billion.
In the course of Friday’s trading, shares of Tesla, from which much of Musk’s wealth derives, fell more than 10 percent to $636 per share at one point.
Chinese buyers are flocking to Tesla vehicles, fuelling hopes of supercharged growth in the world’s largest auto market. With a market share of 2.5 percent in the first quarter of 2022, Tesla is closing in on luxury car makers BMW, Mercedes-Benz, and Audi.
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