Elon Musk just lost his trillionaire status again after three days—but he says ‘it’s not like it’s sitting in a bank account’ anyway
Source: Fortune ·
SpaceX founder Elon Musk lost $63 billion in the span of days, falling out of the trillionaire club for the second time.
From the source
In the span of just three days, SpaceX founder Elon Musk ascended to trillionaire status before crashing out of the club in a billion-dollar downturn. And while he remains the richest person in the world by a $600-billion longshot, the entrepreneur says his wealth is always at the whim of his companies’ success. “Trillionaire represents some percentage ownership in companies that I built, and it’s not sitting in a bank account,” Musk said in an interview with entrepreneur Peter Diamandis earlier this year, about three months before he first became a trillionaire following SpaceX’s IPO in June. Musk’s net worth started to fall from its recent high of $1.05 trillion on Tuesday, dropping down to $987 billion on Thursday, according to the Bloomberg Billionaire Index. His aerospace company’s shares were down 3.5% and trading under $162 yesterday, just as his EV car business Tesla was also down over 2%. Forbes estimates that Musk lost $21 billion Wednesday morning when SpaceX shares fell…