Elon Musk Loses $1 Billion in Two Minutes as Tesla Shares Tumble - TECH FOE

Elon Musk Loses $1 Billion in Two Minutes as Tesla Shares Tumble



Tech entrepreneur Elon Musk has seen a gigantic $1.1 billion wipe from his net wort in just two minutes of New York tradings as Tesla Inc. stocks fell as much as 11%, Bloomberg reports.

The fall in shares came after the electric car maker reported a lower than expected first-quarter auto deliveries. Tesla delivered delivered 63,000 cars in the first quarter of 2019, down from 90,966 in the fourth quarter.

Tesla C.E.O Elon Musk derives $10 billion of his wealth from Tesla, while about $13 billion comes from his stakes in his Space Exploration Technologies Corp.

The fall in shares has seen the billionaire's network drop to $22.3 billion 

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