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Elon Musk is No Longer the World’s Richest Man

With the crypto space in the midst of a historic market readjustment, Tesla maverick Elon Musk concedes ‘the world’s richest’ hot seat to Amazon Chief Jeff Bezos. As far as current standings go, Bezos is now worth $186 billion while Musk sits at $183 billion.

Musk is the majority stakeholder at Tesla, controlling 241 million shares according to Dow Jones company called Barron’s. Tesla stock prices have been ludicrous, zooming up from a price of $408 in November 2020 to a high of $883 in January 2021.

But then, Tesla bought $1.5 billion in Bitcoin. Decrypt reports that since the purchase was revealed on February 8, share prices have dropped from $863 to $709. That equates to about $36 billion less than Musk previously accounted for.


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Tesla’s BTC acquisition has been a boon for the crypto space, however, on the morning of February 8, the price of the Bitcoin was $39,000. In the events that followed during the next 2 weeks, it ticked all the way up to an all-time high of $58,000.

The price bump netted Tesla an estimated $1 billion+ in profit, according to analysis from various venture capital firms. Or it would have if Tesla had cashed out yesterday. Bitcoin shed $10,000 off its historic rise yesterday and took some of the bling off Tesla’s digital assets.

Today’s open market shows that the crypto streets are in recovery and hovering between the $48,000-$52,000 range. Only time will tell what happens next.


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Despite the lack of correlation between Tesla and Bitcoin price movements these days, the electric car company’s stock is strongly hitched to Bitcoin—or, at least, will be moving forward in subsequent flows. The feeling is that Bitcoin isn’t yet fully “being factored into the price” as required.

If and when that happens, we may very well see the volatile Elon Musk moving all over the list of richest people, his company’s fortune tied to an even more volatile currency. Bezos probably doesn’t even care what number he’s sitting on.

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