Elon Musk loses US$15 billion in a day over Tesla’s bitcoin holdings after the CEO says price is high

  • After Elon Musk warned that price of bitcoin seems high, Tesla shares fell 8.6 per cent owing to the company’s US$1.5 billion in bitcoin on its balance sheet
  • Musk and Amazon.com founder Jeff Bezos have been trading places on the Bloomberg Billionaires index since January as Tesla’s value fluctuated

Tesla CEO Elon Musk lost US$15 billion when the company’s shares fell 8.6 per cent on Monday, making Amazon.com founder Jeff Bezos once again the world’s richest person. Photo: Getty Images

Elon Musk is no longer the world’s richest person after Tesla shares slid 8.6 per cent on Monday, wiping US$15.2 billion from his net worth.

Tesla’s biggest decline since September was fuelled in part by Musk’s comments over the weekend that the prices of bitcoin and smaller rival Ether “do seem high”. His message – via his favoured medium of Twitter – came two weeks after Tesla announced it added US$1.5 billion in bitcoin to its balance sheet.

Print option is available for subscribers only.
SUBSCRIBE NOW
Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved.