How Elon Musk's net worth depreciated by $1 bn in 2 mins
SEC holds Tesla CEO in contempt for sharing confidential information with his 25.5 million followers on Twitter.
By Bloomberg | Updated:
Agencies
By Tom Metcalf
Elon Musk saw $1.1 billion wiped from his net worth in the first two minutes of New York trading as Tesla Inc. shares sank as much as 11 percent.
The fall cut his net worth to $22.3 billion on the Bloomberg Billionaires Index as of 9:32 a.m. The electric-car maker had reported a record decline in deliveries during the first quarter, down to 63,000 vehicles in the three months that ended in March, from 90,966 in the fourth quarter.
Elon Musk About $10 billion of Musk’s fortune is derived from Tesla with approximately $13 billion coming from his stake in closely held rocket business Space Exploration Technologies Corp., according to calculations by the ranking.
Million-Dollar Babies Of The Mega-Rich: Far Out Projects Of Lakshmi Mittal, Elon Musk
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With a net worth of $112 billion, the world’s richest man, Jeff Bezos, is building a 500-feet tall clock inside a West Texas mountain. The timepiece will tick once a year — for the next 10,000 years. A look at grand projects that other deep-pocketed bigwigs have taken on.
With a net worth of $112 billion, the world’s richest man, Jeff Bezos, is building a 500-feet tall clock inside a West Texas mountain. The timepiece will tick once a year — for the next 10,000 years...
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The ArcelorMittal Orbit Cost: £22.7 million ($31.5 million approx)
ArcelorMittal CEO Lakshmi Mittal commissioned the ArcelorMittal Orbit as a symbol and legacy of the 2012 London Olympic and Paralympic Games. Made of 265 double-decker buses worth of steel, the Orbit has 35,000 bolts and provides spectacular 20-mile views of the Queen Elizabeth Olympic Park and London. Designed by Sir Anish Kapoor and Cecil Balmond, the Orbit also has the distinction of being the UK’s tallest sculpture.
The ArcelorMittal Orbit
Cost: £22.7 million ($31.5 million approx)
ArcelorMittal CEO Lakshmi Mittal commissioned the ArcelorMittal Orbit as a symbol and legacy of the 2012 London Olympic and Paralym..
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Museo Soumaya Cost: $70 million
The Mexican business magnate Carlos Slim founded Museo Soumaya as a civic gift to Mexico City. The museum, which is named after Slim’s late wife Soumaya who passed away in 1999, opened on March 28, 2011. The museum is said to contain over 66,000 pieces of art spanning many centuries. It has been reported that the total value of art in the museum is around $700 million and cost a $70 million to build.
Museo Soumaya
Cost: $70 million
The Mexican business magnate Carlos Slim founded Museo Soumaya as a civic gift to Mexico City. The museum, which is named after Slim’s late wife Soumaya who passed aw..
The late Texas oil billionaire George P Mitchell, left, (with wife Cynthia) was a well-known philanthropist. He is credited with pioneering shale-drilling techniques. In 2011, he donated $25 million towards the construction of Giant Magellan Telescope (GMT), which is being built in Chile’s Atacama Desert and is expected to be complete by 2024. Upon completion, the telescope is set to be the largest optical observatory in the world and have a resolving power that is 10 times greater than that of Hubble Space Telescope, one of the largest space telescopes ever.
(Image: www.cgmf.org)
Giant Magellan Telescope
Cost: $1 billion (estimated)
The late Texas oil billionaire George P Mitchell, left, (with wife Cynthia) was a well-known philanthropist. He is credited with pioneering shal..
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Schmidt Ocean Institute Cost: $60 million
The Schmidt Ocean Institute is a non-profit foundation founded in 2009 by Google’s former executive chairman Eric Schmidt (left). The couple is said to have decided to establish the institute after Wendy’s first scuba dive in 2009 in the Caribbean’s Grenadine Islands. The couple donated $100 million to set up the institute, which uses a 272-footlcong ship to achieve its mission to “advance the frontiers of ocean research and exploration”.
(Image: Twitter)
Schmidt Ocean Institute
Cost: $60 million
The Schmidt Ocean Institute is a non-profit foundation founded in 2009 by Google’s former executive chairman Eric Schmidt (left). The couple is said to have..
