Elon Musk is out of the $ 200 billion club after Tesla shares fell 7% on Tuesday.
Musk’s wealth fell 5.4 percent to $ 193 billion as the stock price of the electric car maker fell, according to Bloomberg, meaning it lost $ 11.1 billion in a single day. .
Tesla has dropped 41% to date, as the technology sector has sold more widely. It has dropped just under 38% since Musk reached an agreement to buy Twitter for $ 44 billion last month.
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Musk has caused controversy since the possible inauguration was announced, threatening to cut its bid based on the number of bots on the social media platform. The ongoing uncertainty seems to have affected Tesla’s value.
“This circus show has been a great highlight to Tesla’s actions,” Dan Ives of Wedbush said in a note Monday. “Musk is facing a bifurcation situation in which he has to decide the next step in this soap opera, as the patience of Tesla investors is being spent a lot.”
Musk has already left the $ 200 billion club twice this year – once in February and once in March. Stock market rallies pushed him above that threshold on both occasions.
Musk’s net worth is now the lowest since last August, according to the Bloomberg Billionaire Index. She has lost just under $ 78 billion this year, but is still comfortably the richest person in the world.
Musk is $ 65 billion richer than Jeff Bezos, who has lost $ 65 billion this year, and Amazon has dropped 38 percent since last year. Bill Gates, Warren Buffett, LVMH President Bernard Arnault and Indian industrialist Gautam Adani are also worth more than $ 100 billion.
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