In May, soon after Tesla became America’s most valuable car maker, Elon Musk admitted that the company’s stock price was irrationally steep. Investors did not listen, and instead sent Tesla shares up 22% in the next five weeks, to an all-time high on June 23. As a result, the net worth of Musk―who serves as the electric car manufacturer’s chairman and chief executive―has dropped $1.7 billion in the last seven days. Musk, who holds roughly two-thirds of his fortune in Tesla shares, is the 72nd richest person on the planet. Even now, Musk’s net worth is up more than $3 billion since October.

Source: Forbes July 07, 2017 12:56 UTC