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Elon Musk no longer richest man in the world after losing $15 billion

Elon Musk second richest again

Elon Musk is no longer the richest man in the world, falling back to 2nd place just after Amazon’s Jeff Bezos.

The iconic Tesla and SpaceX founder lost $15 billion in net-worth after the price of Bitcoin fell significantly this week.

Bitcoin’s price fell sharply right after Musk posted a tweet on how the cryptocurrency’s price was “quite high”, or rather “That said, BTC & ETH do seem high lol”, in his own words.

Musk’s tweet came two weeks after Tesla announced it has bought $1.5 billion worth of Bitcoin.

From that incident, Tesla witnessed its biggest one-day decline in market value since September 2020.

Despite his net-worth falling, Musk’s wealth has increased by $13.6 billion year-to-date, crossing $183.4 billion.

Analysts also predict that Bitcoin’s price may correct itself in the coming months due to institutional buying, eventually surpassing its peak price of $50,000 once more.