With the recent continuous decline of Tesla's share price, the value of CEO Elon Musk fell below $200 billion again. Tesla shares fell 6.93% on Tuesday to close at $628.16. Musk's net assets shrank by 5.4% to $192.7 billion, the lowest since August 26 last year. The decline of the electric vehicle manufacturer exceeded that of the S & P 500 index, which fell 0.8% on Tuesday.
Nevertheless, musk still ranks first on the global rich list because other tech rich have had a hard time recently. Amazon founder Jeff Bezos fell to $127.8 billion, still second.
Musk, 50, last fell below the $200 billion mark in March. But at that time, the market rebounded rapidly, and his net assets reached $288 billion on April 4.
On the same day, musk disclosed that he had acquired about 9% of twitter. A few days later, he launched a takeover offer and was finally approved by the twitter board, but doubts about the acquisition grew as the sharp decline in technology stocks dragged down the share prices of the two companies.
Musk said earlier this month that the deal would be suspended until twitter produced public evidence of the number of accounts controlled by robots on its platform. Twitter insisted that the acquisition was proceeding as planned.