Musk now has a net worth of $194.8 billion, according to Forbes, with a big share of that coming from his nearly 15% stake in Tesla, which has a market value of $622 billion.
The company has lost nearly half its market value and his net worth has dropped by $70 billion since he bid for Twitter in April.
Tesla dips as investors worry over Musk’s attention to Twitter
Investors initially fled Tesla on worries over share sale by Musk, who has divested at least $15 billion worth of stock. He closed the $44-billion deal last month with $13 billion in loans and a $33.5 billion equity commitment.
Now Wall Street fears that Musk has stretched himself too thin at a time when the EV maker is ramping up production and faces rising competition.
“It seems like Elon Musk is spending 100% of the time on Twitter and you know, it might need more capital,” said Jay Hatfield at Infrastructure Capital Management.
Since buying Twitter, Musk has made very few tweets on Tesla, a practice that helped
