News > Elon Musk loses $50 bn in 2 days on Tesla tumult in record wealth plunge

Elon Musk loses $50 bn in 2 days on Tesla tumult in record wealth plunge

Elon Musk has lost $50 billion so far this week after Tesla Inc. shares plunged for the second day in a row. It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index.

Tesla’s rout comes amid a tumultuous few days for the automaker. It started when Musk asked his Twitter followers over the weekend whether he should sell 10% of his stake in the company, followed by news that his brother Kimbal sold shares just before the poll.