Elon Musk’s net worth takes a $20 Billion dive after SNL appearance as bitcoin is still down

Elon Musk’s net worth takes a $20 BILLION nosedive after a one-two punch: Tesla no longer taking Bitcoin and the SNL appearance when he called dogecoin a ‘hustle’

The Tesla CEO is $20 billion poorer since hosting SNL last weekendMusk was worth $166 billion prior to his May 8 appearance, since then shares of Tesla have fallen 15% so far this week, lowering his net worth to $145.5 billion Musk still stands as the third-richest person on earth, ahead of Microsoft cofounder Bill Gates, whose fortune stands at an estimated $127.6 billionMusk’s announcement that Tesla would no longer accept Bitcoin as a payment initially caused a huge 17 percent drop in the price of the cryptocurrencyThe coin’s price plunge wipe off an estimated $365 billion from the entire cryptocurrency market

Elon Musk’s net worth has taken a nosedive after the past week’s self-inflicted one-two punch: him saying Tesla would no longer take Bitcoin and him saying dogecoin was a ‘hustle.’

After his much talked about Saturday Night Live appearance last week, his net worth – at least on paper – has dipped by $20 billion, Forbes reported.  

While Musk was worth a cool $166 billion prior to his May 8 appearance, shares of Tesla have fallen 15% so far this week, lowering his net worth to $145.5 billion as of market close on Thursday, Forbes estimates. 

Tesla holds around $1.3 billion in Bitcoin – so as Bitcoin dips, the value of Tesla also can be dented: Musk’s net worth, tied up in Tesla stock, also then is affected. 

Despite the massive loss, Musk still stands as the third-richest person on earth, ahead of Microsoft cofounder Bill Gates, whose fortune stands at an estimated $127.6 billion, Forbes estimates.  

Tesla CEO Elon Musk (pictured)  is $20 billion dollars poorer since hosting Saturday Night Live last weekend

Musk's announcement that Tesla would no longer accept Bitcoin as a payment initially caused a huge 17 percent drop in the price of the cryptocurrency

Musk’s announcement that Tesla would no longer accept Bitcoin as a payment initially caused a huge 17 percent drop in the price of the cryptocurrency

On Wednesday, Musk’s announcement that Tesla would no longer accept Bitcoin as a payment for its electrical vehicles due to environmental factors bitcoin led to the cryptocurrency to also take a deep dive. 



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