Elon Musk’s network shrinks by Ksh1.6 trillion after a single tweet

Elon Musk’s network shrinks by Ksh1.6 trillion after a single tweet

Tesla CEO Elon Musk has yet again slipped to the number two spot on Bloomberg’s list of the world’s richest person.

Musk’s net worth reduced by a whopping Ksh.1.6 trillion ($15.2 billion) in a single day after Tesla shares slid 8.6 percent on Monday.

This has once again put Amazon’s Founder Jeff Bezos to a top position as the world’s wealthiest man, according to the Bloomberg Billionaires Index. Bezos has $186 billion (Ksh.20.3 trillion) in wealth as against Musk’s $183 billion(Ksh.20.0 trillion) fortune.

Tesla’s shares also slipped after Musk’s admission, also on Twitter that Tesla’s Model Y Standard Range SUV would still be available “off the menu” because it doesn’t meet the company’s “Standard of Excellence.”

Jeff Bezos and Elon Musk have been swapping places this year as the value of Tesla fluctuated. In early February, Musk briefly overtook Bezos after his rocket company SpaceX raised $850 million, valuing the company at $74 billion (Ksh.8.1 trillion), a 60 percent jump from August.

Musk’s wealth has increased by $13.6 billion (Ksh.1.4 trillion) year-to-date, which is second-most for a billionaire in the Bloomberg Billionaires Index.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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