Elon Musk net worth plunges $16.3 billion on competitors, Nikola and General Motors partnership

On news of a partnership between competitors Nikola Corp. and General Motors Co., deepening a sell-off that began last week; the electric-carmaker, Tesla fell 21% in trading on the NYSE. Musk’s drop would have been even larger if he hadn’t collected his third tranche of options worth $2.2 billion, linked to his moonshot compensation package.

Elon Musk’s net worth plunged $16.3 billion on Tuesday, the largest single-day wipe-out in the history of the Billionaires Index. The SpaceX owner is currently owns assets worth $82.3 billlion.

On news of a partnership between competitors Nikola Corp. and General Motors Co., deepening a sell-off that began last week; the electric-carmaker, Tesla fell 21% in trading on the NYSE. Musk’s drop would have been even larger if he hadn’t collected his third tranche of options worth $2.2 billion, linked to his moonshot compensation package.

Advertisement

Amazon Inc’s Jeff Bezos who crossed the $200 billion mark, lost $7.9 billion on Tuesday. Read here.

In the meanwhile, Indian Billionaire Mukesh Ambani touched the 4th position on the Bloomberg Billionaires Index. Read here.