Elon Musk is overshadowing the Twitter deal, net worth was reduced by $ 200 billion

Elon Musk, Chief Executive of American electric car maker Tesla, has been facing difficulties since purchasing a micro -blogging site Twitter. Tesla’s shares are getting heavy selling due to Musk’s more attention on Twitter. Tesla’s market capitalization has decreased by almost half after Musk’s bid for Twitter in April.

Musk’s net worth has come down by $ 200 billion. According to Forbes, Musk has a net worth of $ 194.8 billion. He has a major contribution of about 15 percent of Tesla in his net worth. Tesla’s market value is about $ 622 billion. Musk has taken a loan of about $ 13 billion to buy Twitter. Tesla is getting a tough competition from other electric vehicle makers and there is also a pressure to increase production on the company. Since buying Twitter, Musk has tweeted very few about Tesla. He has been giving information about schemes related to Twitter only for the last few days. Twitter has also announced a charge of about $ 8 per month for the blue tick of verification.

The world’s richest person Musk’s net worth is about $ 40 billion more than Bernard Arnault. Tesla’s sales have been affected due to Slodown, Supply Chen’s difficulties and raw material cost. China’s automobile company BYD had sold the most electric vehicle (EV) at the global level by defeating Tesla, the second quarter of the current financial year. It achieved an annual growth of 266 percent by selling around 3,54,000 EVs. During this period, Tesla’s sales stood at around 2,54,000 units.

The total sales of these vehicles increased by 61 percent to 21.8 lakh units on a year-by-year basis in the second quarter. China was at the top with 12.4 lakh units in this market. The sales in China increased by about 92 percent on an annual basis. Europe and America were second and third. This is the first time that an automobile company has left Tesla behind in EV sales. The major reasons for the decline in Tesla’s sales were the lack of semiconductor and epidemic. However, the second half of this year may be better for the company.

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