Elon Musk's net worth dropped $29 billion in one day as Tesla stock tanks
(Business Insider) -snip- Elon Musk remained the wealthiest person in the world even after losing $29 billion on Monday alone.
Musk was worth $301 billion as of Monday evening, according to the Bloomberg Billionaires Index, which updated to reflect stock values as of market close. Musk's net worth on Sunday was $330 billion, meaning it fell 6.7% on Monday.
The net worth drop was fueled by a decline in Tesla's stock price. Tesla's stock fell 15% on Monday, marking its biggest single-day decline since September 2020. The tech-heavy Nasdaq 100 was down 4% overall while the S&P 500 was down 3%.
Tesla stock is down 55% from its high in December. Musk's net worth is down $132 billion, or more than 30%, this year, according to Bloomberg.
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