--- title: "Elon Musk Loses $50 Billion in Two Days, But He’s Still Richer Than Bezos" description: "Even a drop of $50 billion in net worth isn’t throwing Elon Musk from the richest person in the world throne. According to the Bloomberg Billionaires Index, the Tesla CEO’s net worth slid some $50 billion since the beginning of the week after Tesla shares plummeted an astonishing 16 percent in the same period, Insider […]" date: "2021-11-10" modified: "2021-11-10" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/elon-musk-wealth-drop" categories: - "Elon Musk" - "Future Society" - "The Industrialists" tags: - "elon musk" - "tesla" - "the digest" --- # Elon Musk Loses $50 Billion in Two Days, But He’s Still Richer Than Bezos ![According to the Bloomberg Billionaires Index, the Tesla CEO's net worth slid some $50 billion since the beginning of the week.]() *\Image: Patrick Pleul/picture alliance via Getty Images\* ## Big Drop Even a drop of $50 billion in net worth isn't throwing Elon Musk from the richest-person-in-the-world throne. According to the Bloomberg Billionaires Index, the Tesla CEO's net worth slid some $50 billion since the beginning of the week after Tesla shares plummeted an astonishing 16 percent over the same period, [*Insider* reports](). It's a spectacular drop for any billionaire's net worth. In fact, [according to *Bloomberg*](), it's the largest two-day decline anybody has experienced since tracking began. But the news also underlines just how much of a head start Musk had over the billionaire competition before the slouch. Despite his fall, Musk's lead over the world's second richest person, Amazon founder Jeff Bezos, still stands at an astonishing $83 billion, *Bloomberg* reports. ## Surge and Fall Tesla has made huge gains this year. Most recently, the announcement of a [massive deal]() with rental car company Hertz pushed both Tesla's share value and [Musk's net worth]() to record highs. But then, Musk put 10 percent of his Tesla stock — a leading source of his largely untaxable wealth — on the market after putting the [decision up for a vote on his Twitter account](). Whether he'll actually sell what amounted to $21 billion in Tesla stock at the time remains to be seen, however. Investors weren't impressed with the kneejerk — albeit characteristically chaotic — move. Tesla shares dropped 16 percent in just two days, leading to Musk's net worth woes. And look, $50 billion may sound like a lot of dough, but it's largely a symbolic reaction to Musk's shenanigans. The change is also unlikely to be permanent — Tesla is a [trillion dollar company]() with, presumably, a bright future. It would take a lot more than an ill-advised Twitter poll to make a significant dent in the long term. **READ MORE:** [Elon Musk Loses $50 Billion in Two Days in Record Wealth Plunge]() \[*Bloomberg*\] **More on Tesla:** *[Tesla Stock Prices Drops After Musk Asks Twitter Whether He Should Sell Stock]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()