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How Tesla CEO Elon Musk lost $1 billion in just 2 minutes

. The electric-car maker had reported a record decline in deliveries during the first quarter, down to 63,000 vehicles in the three months that ended in March

Tom Metcalf | Bloomberg 

Musk has some of the most remarkable views on Artificial Intelligence. Photo: Reuters
Tesla CEO Elon Musk. Photo: Reuters

saw $1.1 billion wiped from his net worth in the first two minutes of New York trading as Inc. shares sank as much as 11 per cent.

The fall cut his net worth to $22.3 billion on the Bloomberg Billionaires Index as of 9:32 am. The electric-car maker had reported a record decline in deliveries during the first quarter, down to 63,000 vehicles in the three months that ended in March, from 90,966 in the fourth quarter.

About $10 billion of Musk’s fortune is derived from with approximately $13 billion coming from his stake in closely held rocket business Space Exploration Technologies Corp., according to calculations by the ranking.

First Published: Fri, April 05 2019. 10:27 IST
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