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Elon Musk Loses $15 Billion in a Day After Bitcoin Warning

  • Jeff Bezos regains title of world’s wealthiest person
  • Zhong Shanshan, Colin Huang, Mukesh Ambani, Pony Ma also lose
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Bitcoin Hits $1 Trillion Market Value
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Elon Musk is no longer the world’s richest person after Tesla Inc. shares slid 8.6% on Monday, wiping $15.2 billion from his net worth.

Tesla’s biggest decline since September was fueled 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 favored medium of Twitter -- came two weeks after Tesla announced it added $1.5 billion in Bitcoin to its balance sheet.