Ilon Musk lost a billion dollars in two minutes

Billionaire Ilon Musk lost 1,1 billion dollars in two minutes after the opening of trading in New York. Reports about it Lenta.ru report with reference to Bloomberg.

Ilon Musk Photo: Depositphotos

Shares of his company Tesla Inc. hit 11 percent. Players on the stock exchange reacted in this way due to news of a record reduction in the supply of electric vehicles to 63 thousand in the first quarter of 2019, from 90 thousand in the fourth quarter of last year.

This falling stock has reduced Mask's fortune to 22,3 billion dollars.

February 19 Musk posted a tweet about plans to release half a million electric cars in the 2019 year. The US Securities and Exchange Commission (SEC) considered that this message may affect investor behavior. As a result, on the news of the accusations SEC company shares fell by 5,4 percent.

In September 2018, the SEC opened a criminal case against Ilona Mask. The reason was a tweet about the intention to make the company private and redeem all shares for 420 dollars. The stated price was higher than the market, and Mask subsequently abandoned his plans. This was a reason to suspect him of fraud in order to influence the stock price. As a result, he left the post of chairman of the board of directors.

Read also on ForumDaily:

Tesla introduced a new electric car Model Y: details

Fee for reckless tweet: Ilon Musk will leave Tesla and pay $ 20 million

Where Ilon Mask took the money for the first development

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.