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The past few days have been rough for his business for Elon Musk. The CEO of Tesla Inc and one of the world’s richest men, Elon Musk, has reached third place in the world's list of richest people released by various media sites.
Now, Musk replaced by LVMH chairperson Bernard Arnault is at #3. The major reason for Elon Musk’s fall to the third position is a 2.2% drop in electric car shares. According to the latest data from Bloomberg, Musk’s net worth is $161 billion.
Recently, In January this year, Elon Musk became the world’s richest person after Tesla’s shares gone up by 750%. But the recent incidents and after the fall in his shares, he has reached at number three.
According to Bloomberg, Musk’s wealth has decreased by $9.1 billion so far this year. Incidentally, Bernard Arnault has added $47 billion this year to his kitty. According to the latest data from Bloomberg, his net worth has now reached 161.1 billion dollars. Amazon owner Jeff Bezos remains at the top of this list.
What Musk Said
“We are deeply concerned about the rapid increase of use of Fossil Energy for bitcoin mining and transactions” That’s what Musk wrote in a tweet. “Especially coal, which has the worst emissions of all fuels consumed in Bitcoin mining”.
However, experts watching the cryptocurrency world do not agree with Elon Musk’s argument. This was the second time in the last few weeks that Musk has gone back from his earlier stand. Earlier, he had talked about taking Dogecoin for the SpaceX campaign. Dogecoin is also a cryptocurrency suffering like bitcoin by Musk’s stand.
As far I am concerned, there is currently no law regarding cryptocurrencies in India. Due to which fear and skepticism about cryptocurrencies remain under suspicion and people taking their decisions with utmost caution.
People believe that in the coming monsoon session of parliament, the Government of India can bring a new law dealing with cryptocurrency. Along with this, there is a lot of discussions that India will bring its own cryptocurrency in the coming time.
