UBS managing director and senior portfolio manager Jason Katz on Elon Musk asking Twitter followers if he should sell Tesla stock.
A weekend tweet by Tesla CEO Elon Musk is proving to be costly.
Musk asked his Twitter followers over the weekend whether he should sell 10% of his stake in the company.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
He has lost $50 billion so far this week after Tesla Inc. shares plunged for the second day in a row, according to Bloomberg.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 1,023.50 | -139.44 | -11.99% |
It’s the biggest two-day decline in the history of the Bloomberg Billionaires Index, and the biggest one-day fall after Jeff Bezo’s $36 billion plunge following his divorce from MacKenzie Scott in 2019.
ELON MUSK’S TESLA STOCK SALE NOT A BIG DEAL, ANALYST SAYS
The question was posed as part of a Twitter poll.
The poll, which garnered more than 3.5 million votes closed Sunday, with nearly 58% in favor of Musk’s proposition and more than 42% against the idea.
ELON MUSK’S IRS TAX BILL COULD TOP $10B: REPORT
The decline means Musk’s lead over Bezos as the world’s richest person has narrowed to $83 billion. Musk passed the Amazon.com Inc. founder for the first time in January.
CLICK HERE TO READ MORE ON FOX BUSINESS
Musk’s fortune is still up 70% this year.