Elon Musk’s net worth slips after eventful week: report
The head of Tesla and SpaceX is still the third richest person valued at $145.5 billion
Elon Musk may have gotten a lot of publicity from his appearance on last weekend’s "Saturday Night Live", but it didn't help his net worth.
The billionaire’s net worth has dropped by $20.5 billion since his appearance, according to Forbes and reported by the New York Post.
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The head of Tesla and SpaceX is still the third richest person valued at $145.5 billion and up $110 billion from a year ago as of the close of Thursday's markets.
Its been an eventful, but costly week for Musk. First, he hosted SNL where as part of a comedy skit, he made a joke about the cryptocurrency Dogecoin which he has been throwing his support behind.
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That sent Dogecoin down 21% during the broadcast., according to Coindesk.
He also set a new policy concerning Bitcoin and Tesla cars.
On Wednesday, Musk announced the company would no longer accept Bitcoin as a payment for its electrical vehicles, which sent the cryptocurrency reeling.
Musk said that while he believed the digital currencies had a promising future, it could not come at the cost of the environment.
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Forbes estimates Tesla shares dropped 15% this week.