Elon Musk lost 12 billion in one day– Twitter has started removing the verified badge on user accounts. After the company that provided the free verification mark refused to pay the fee, the company started removing the blue tick.
There is a strange coincidence when Elon Musk’s company is removing the blue tick like this. The rocket of Musk’s other company, SpaceX, exploded on Thursday.
The explosion of SpaceX’s Starship rocket, which was being tested, caused a drop in the share price of his company.
Meanwhile, shares of Musk’s other main company, Tesla, also fell by 9.65 percent on the same day. Tesla’s share price fell sharply after he indicated that he would reduce the price of the vehicle to increase the demand for electric vehicles.
Musk’s wealth is directly linked to the share prices of Tesla and SpaceX. Thus, when the share price of both companies fell, his wealth decreased.
In the same day, when the shares of Twitter, SpaceX and Tesla fell, Musk’s total wealth has decreased by 11.4 billion dollars in the last 24 hours.
Forbes magazine has mentioned that his total wealth is now limited to 173.6 billion.
Thus, Musk is expected to have a total of 74 percent of Twitter shares. At the moment, Twitter’s share price has not fallen. However, the share price of SpaceX fell due to the explosion of the rocket, while the share price of Tesla fell due to the market effect.
In this way, when two thunderbolts fell on Musk at the same time, various reports have mentioned that his wealth lost 11.4 billion in one day.
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