Merdeka.com – Tesla’s shares fell 15 percent this week. The impact on the wealth of the billionaire and the CEO, Elon Musk, decreased by more than USD 20 billion or around IDR 285.6 trillion to USD 145.5 billion on Thursday, May 13, 2021.
Quoted from Forbes, Saturday (15/5), wealth Elon Musk estimated to be USD 166 billion when appearing on Saturday Night Live (SNL) last weekend.
At the event, Musk cracked jokes about his business plans, as well as discussed cryptocurrencies such as Bitcoin and Dogecoin.
Musk, who previously promoted cryptocurrency, at the event he briefly called Dogecoin a “hustle”. As a result, Dogecoin’s value fell by more than 30 percent within the following 24 hours.
Later this week, Musk suddenly reversed course regarding his statement in February that Tesla would accept Bitcoin as payment for its vehicles.
On the Wednesday evening of May 12, 2021, Musk announced on Twitter that he had suspended Bitcoin as payment, out of concern for Bitcoin transactions. The price of Bitcoin then fell 17 percent to below USD 50,000 on the morning of Thursday May 13, 2021, following Musk’s statement.
Wall Street analysts warn that the latest move Elon Musk has confused investors, and caused additional volatility for Tesla’s stock.
A 15 percent drop in Tesla’s stock has wiped billions from Musk’s net worth this week. In which, he has a 21 percent stake in Tesla.
Nevertheless, Musk is currently still on the list of the richest people in the world. According to Forbes records, Musk is almost USD 110 billion richer than last year with a fortune of USD 145.5 billion currently owned.
Thanks to Tesla’s massive compensation plan, he was paid nearly USD 11 billion last year. All in Tesla’s stock options.