Elon Musk loses $15 billion in a single day

Elon Musk has probably been the greatest supporter of cryptocurrency. His tweets on the side of Bitcoin and Dogecoin alongside Tesla's investment have resulted in a significant increase of major cryptocurrencies in the previous few weeks. However, one of his recent tweets has cost Musk an incredible $15.2 billion a day after Tesla shares slid 8.6% on Monday. Tesla saw the greatest one-day decrease in its value since September 2020 on Monday. The tweet came only fourteen days after Tesla had added $1.5 billion in Bitcoin to its balance sheet. The organization had likewise declared that it is prepared to acknowledge cryptocurrency as a means for payments for its electric vehicles. 

This incident's effect is that Tesla CEO Elon Musk has again slipped to the number two spot on Bloomberg's list of the world’s richest person as Amazon's founder Jeff Bezos is now the world’s richest person. Bezos has $186 billion in abundance as against Musk's $183 billion fortune.