The day after Elon Musk slips to the number two spot on Bloomberg's list of the world’s richest person, Nikhil Kamath, co-founder of Zerodha, wonders whether the Tesla Boss is his mojo.
On Monday, Tesla shares slid 8.6%, wiping $15.2 billion from Musk's net worth. In fact, this is Tesla’s biggest decline since September.
As per a Bloomberg report, the fall came following Elon Musk's tweet over the weekend that prices of Bitcoin and smaller rival Ether “do seem high." Only two weeks back, Tesla announced it added $1.5 billion in Bitcoin to its balance sheet. The cryptocurrency, which has surged more than 400% over the past year, tumbled for a second day on Tuesday, at one point slipping below $50,000 on skepticism over the durability of its rally.
Musk also tweeted earlier Monday that the company’s Model Y Standard Range SUV would still be available “off the menu," backing up reports from electric vehicle news site Electrek that the model had been removed from its online configurator.
After Musk's tweets and the market movements following that, Nikhil Kamath took to Twitter to say: Is it just me or is Elon Musk losing some of his MOJO for the first time...
He also added: Spiderman, with great power, comes great responsibility.
Jeff Bezos and Elon Musk have been swapping places this year as the value of Tesla fluctuated. Earlier this month, Musk briefly overtook Bezos after his rocket company SpaceX raised $850 million, valuing the company at $74 billion, a 60% jump from August.
Musk's wealth has increased by $13.6 billion year-to-date, which is second-most for a billionaire in the Bloomberg Billionaires Index.
(With inputs from agencies)
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