Tesla's stock price plummeted, and Musk and I were $30 billion closer to our wealth

Currently, Elon Musk Musk's fortune is like a yo-yo — perfect for the first week of January. In just a few days, the world's richest people have gained and lost nearly $30 billion.

The Texas-based CEO is now worth an estimated $271.5 billion, and just three days ago, better-than-expected car delivery data propelled Tesla's stock price up 13.5 percent on Monday and brought his fortune to more than $300 billion for the first time since last November.

But Musk's bonuses disappeared almost as soon as they arrived. On Wednesday alone, he waved goodbye to about $13.9 billion in property and lost another $5.3 billion on Thursday. At Thursday's close, Tesla shares were down about 11 percent from Monday's peak.

Electric vehicle companies may face greater volatility. On Wednesday, prominent short seller Fraser Perringannounced announced that he was shorting the company, posting on Twitter: "Are Toyota and Volkswagen undervalued, or are Tesla overpriced?"? Tesla's quality (fully autonomous driving technology) will be measured by consumers. I'm short again. Tesla's stock price plummeted 5 percent on Wednesday, but the company's market capitalization is still as high as $1.08 trillion, trading 44 percent more than it was a year ago. (Toyota's market capitalization is close to $327 billion, while Volkswagen's market capitalization is $139 billion.) )

Most of Musk's net worth is related to his roughly 16 percent stake in Tesla, which he first invested in in 2004, a year after Tesla was founded. He also owns a 48 percent stake in privately held rocket company SpaceX, which was valued at about $74 billion in a February 2021 funding round.

Even with a reduction of nearly $30 billion, Musk is still the richest man in the world. It was followed by French fashion mogul Bernard Berger. Arnault (estimated net worth $198.8 billion) and Amazon founder Jeff Arnaud Bezos (estimated net worth of $189 billion).

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