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Musk’s fortune thins by $20 BILLION since his appearance on ‘Saturday Night Live’


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Musk’s fortune thins by $20 BILLION since his appearance on ‘Saturday Night Live’

Tesla co-founder and CEO, Elon Musk, has reportedly become more than $ 20 billion poorer since he appeared as a guest host on an episode of ‘Saturday Night Live’ last weekend.

The businessman’s net worth dropped from $ 166 billion to $ 145.5 billion after shares of his electric automaker Tesla fell some 15% over the past week, according to data tracked by Forbes. However, Musk remains the world’s third richest person.
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During his comedy debut the eccentric billionaire, who became the wealthiest person to ever anchor the show, revealed that he was also “the first person with Asperger’s to host – or at least the first to admit it.”

The entrepreneur also discussed the latest fuss around cryptocurrencies like bitcoin and dogecoin, having made a shock announcement that that the latter was a “hustle.” Musk had previously promoted the token publicly, pushing its price to record highs.

Comments made during Musk’s much-anticipated appearance on the show heavily hit the crypto market with dogecoin dropping over 30% within 24 hours.

Several days later, Musk announced Tesla would stop accepting bitcoin for vehicle purchases or selling the cryptocurrency until mining procedures transition to “more sustainable energy” than coal or fossil fuels.
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The news sent the price of bitcoin plummeting by as much as 17%, to below $ 50,000 this week.

Musk’s latest moves have reportedly confused investors, evoking additional volatility for Tesla’s stock, which has struggled over the past month due to the recent market sell-off of Big Tech giants and the growing uncertainty about the automaker’s business in China.

For more stories on economy & finance visit RT’s business section

Author: RT
This post originally appeared on RT Business News


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