Elon Musk drops out of $200 billion club again as Tesla tumbles

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"After near 7 per cent crash in Tesla share price on Tuesday, Elon Musk has fallen out of the elite $200 billion club."

"Musk, the world’s richest person, saw his fortune drop Tuesday by 5.4% to $192.7 billion as shares of Tesla Inc. slid almost 7%."

"However, Tesla CEO is still on the top of the list of Bloomberg Billionaires Index."

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"Amazon.com Inc's Jeff Bezos is placed at number two spot with $127.80 billion wealth."

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"Last time, when Elon Musk net worth fell below $200 billion was in March 2022 after the market crash."

"However, Tesla co-founder pared his losses after markets rebound strongly after that crash."

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"This rebound lifted Elon Musk's net worth up to $288 billion on 4th April 2022, the day when Musk had announced that he had acquired 9 per cent stake in twitter."

"However, few days later Tesla co-founder launched a takeover bid and eventually secured the board’s approval,"

"but doubts over the twitter acquisition have grown amid a tech stock rout that’s dragged down both companies’ shares."

"Elon Musk said earlier in May 2022 that twitter deal would be on hold until twitter produced public proof about the number of accounts on the platform controlled by bots."

"Twitter maintains the purchase is moving forward as planned."

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