With Tesla Stock Decline, Elon Musk Lost $27B In A Week

Tesla stock fell 11.5% in a week. This decline cost very dearly to its main shareholder, Elon Musk.

Tech stocks were those paying the highest price in terms of performance on Wall Street last month. Nasdaq fell 6.7% and has virtually zeroed gains year to date (+0.25%). Tesla Inc. TSLA, which entered the S&P 500 index in December, is still one of the tech stocks par excellence on Wall Street. Premise: Tesla gained 743% in 2020. Report: the stock lost 30.7% in the last month, falling from $863 to $597. Tesla founder Elon Musk, who owns approximately 18% of the company's shares, was the most affected by the stock decline.

$27 Billion Less For Musk: In just one week, Elon Musk lost $27 billion (in terms of stock value, not the money held by Musk in his bank account) due to an 11.5% drop in Tesla shares. The data comes from the Bloomberg Billionaires Index. Just to give an idea, such loss is equivalent to the total assets of James Dyson, the 52nd richest man in the world and the founder of the company that bears his name. The same index also reports that Musk now lags a whopping $157 billion behind Jeff Bezos (who leads the ranking) and keeps Microsoft Corp. MSFT CEO Bill Gates at a distance of $22 billion.

Tesla Ranks 7^th By Market Cap: Since the beginning of this year, Tesla has moved from fifth to seventh place among the companies with the largest capitalization, surpassing by Facebook Inc. FB and Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B). However, CNN Business notes that despite Tesla's decline, 2021 could also prove very profitable for Elon Musk, who should receive further billion-dollar bonuses for the purchase of additional Tesla shares - based on the results achieved. So far, Musk has never sold Tesla shares and does not receive a salary from the company he founded, but his compensation is paid in bonuses for the purchase of shares to be paid upon achieving certain goals.

This article originally appeared on Financialounge.com and was translated from Italian to English. It does not represent the opinion of Benzinga and has not been edited. For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.