Photo: Elon Musk, world’s richest man.
Elon Musk, the richest man in the world, has lost a whopping sum of $11.9 billion, which is about 4.27 per cent of his total estimated wealth within twenty four hours.
According to the Forbes Billionaire Index, Musk’s net worth dropped to $267.4 billion on Friday.
The development follows mere comments that Musk made denying a report that he planned to build a private airport in the United States.
Musk’s comments inadvertently triggered the stock price of Tesla, his company of which he is the Chief Executive Officer, to fall by -5.82 per cent during trading on the U.S. stock exchange on Friday.
Tesla’s share value dropped by $53.86 to close at $872.04 on Friday, down from $925.90 posted earlier.
The dip in Tesla’s share reduced Musk’s net worth, causing the billionaire to lose $11.9 billion from his total estimated wealth,
Periscope International recalls that media reports on Thursday had indicated that the U.S. tech billionaire planned to construct a private airport around Central Texas.
According to the reports, the new private airport was intended to service personnel and operations of Musk’s companies; Tesla, The Boring Company, and SpaceX.
Musk, who also owns acres of land in Central Texas, however took to Twitter on Friday to deny the report, saying it would be silly to build another private airport when there’s an international airport close to Tesla.
“Not true. Tesla is 5 minutes from Austin International Airport. It would be silly to build another private airport.
“However, the existing commercial airport needs another runway, as Austin is growing fast,” Musk was quoted as saying, which triggered the stumbling of Tesla’s share value.
