--- description: Elon Musk has lost $50 billion so far this week after Tesla shares plunged for the second day in a row. title: Elon Musk’s Net Worth Has Plunged $50 Billion in 2 Days image: https://static.time.com/v3/assets/bltea6093859af6183b/bltfba610cd2c10547f/698a1eb5d0753325d8e6c29b/elon-musk-net-worth.jpg?branch=production&width=2400&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Companies](/tag/companies/) ## Companies Update your preferences in [Account Settings](/account/preferences/) Close # Elon Musk’s Net Worth Has Plunged $50 Billion in 2 Days ## Video: TIME100 | Elon Musk and MiMi Aung [Watch (HLS stream): TIME100 | Elon Musk and MiMi Aung](https://cdn.jwplayer.com/manifests/D6MzEGAx.m3u8) (2:25)  _Published 2021-09-20. Despite the slump, Musk’s fortune is still up 70% this year thanks to Tesla’s gains and a higher valuation for SpaceX_ by [Sophie Alexander/Bloomberg](/author/bloomberg/) ## Sophie Alexander/Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Nov 10, 2021 12:18 AM CUT  Tesla CEO Elon Musk talks during a tour of the plant of the future foundry of the Tesla Gigafactory Grünheide near Berlin, Germany last summer. Tesla CEO Elon Musk talks during a tour of the plant of the future foundry of the Tesla Gigafactory Grünheide near Berlin, Germany last summer.Patrick Pleul–Pool/Getty Images by [Sophie Alexander/Bloomberg](/author/bloomberg/) ## Sophie Alexander/Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Nov 10, 2021 12:18 AM CUT Elon Musk has lost $50 billion so far this week after Tesla shares [plunged](https://www.bloomberg.com/news/articles/2021-11-09/tesla-selloff-deepens-after-insider-report-on-burry-s-tweet "undefined") for the second day in a row. It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezos’s $36 billion plunge following his divorce from MacKenzie Scott in 2019. 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. Capping it off was an Insider [report](https://markets.businessinsider.com/news/stocks/big-short-michael-burry-elon-musk-tesla-stock-market-bubble-2021-11 "undefined") Tuesday morning on Michael Burry, the investor made famous by the movie “The Big Short,” saying Musk may want to sell shares to cover his personal debts. The drop narrows Musk’s lead over Bezos as the world’s richest person to $83 billion. Musk surpassed the Amazon.com founder for the title for the first time in January and the gulf between the two recently rifted as wide as $143 billion, a figure greater than the net worth of Bill Gates, the world’s fourth-richest person. Cathie Wood’s ARK Investment Management, whose funds have been selling shares in Tesla over the past few months, lost more than $750 million in Tuesday’s selloff, while Oracle Corp. founder Larry Ellison, the company’s second-largest individual shareholder, lost $2.1 billion. Despite the slump, Musk’s fortune is still up 70% this year thanks to Tesla’s gains on the back of strong earnings growth and delivery numbers and a higher [valuation](https://www.bloomberg.com/news/articles/2021-10-08/musk-s-spacex-hits-100-3-billion-valuation-cnbc-says "undefined") for SpaceX. Tesla’s market capitalization has stayed above $1 trillion, a benchmark it hit last month after its third quarter results significantly beat market expectations and rental-car company Hertz Global Holdings Inc. placed an order for 100,000 Tesla cars. _—With assistance from Jack Witzig._ ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/6115825/elon-musk-net-worth-loss/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/6115825/elon-musk-net-worth-loss/"},"headline":"Elon Musk’s Net Worth Has Plunged $50 Billion in 2 Days","datePublished":"2021-11-10T00:18:57.000Z","dateModified":"2026-02-24T10:31:13.101Z","description":"Despite the slump, Musk’s fortune is still up 70% this year thanks to Tesla’s gains and a higher valuation for SpaceX","url":"https://time.com/6115825/elon-musk-net-worth-loss/","keywords":["Companies","overnight","biztech2030","bloomberg wire"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltfba610cd2c10547f/698a1eb5d0753325d8e6c29b/elon-musk-net-worth.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Sophie Alexander/Bloomberg"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltfba610cd2c10547f/698a1eb5d0753325d8e6c29b/elon-musk-net-worth.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Elon Musk Visits Site Of New Tesla Gigafactory In Germany","caption":"Elon Musk Visits Site Of New Tesla Gigafactory In Germany","creditText":"Patrick Pleul–Pool/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/6115825/elon-musk-net-worth-loss/","name":"Elon Musk’s Net Worth Has Plunged $50 Billion in 2 Days"}}]},{"@context":"https://schema.org","@type":"VideoObject","name":"TIME100 | Elon Musk and MiMi Aung","description":"Despite the slump, Musk’s fortune is still up 70% this year thanks to Tesla’s gains and a higher valuation for SpaceX","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/D6MzEGAx/poster.jpg?width=720","uploadDate":"2021-09-20T17:27:00.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/D6MzEGAx.m3u8","embedUrl":"https://time.com/6115825/elon-musk-net-worth-loss/","duration":"PT2M25S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/6115825/elon-musk-net-worth-loss/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}}] ```