Tech entrepreneur Elon Musk has seen a gigantic $1.1 billion wipe from his net wort in just two minutes of New York tradings as Tesla Inc. stocks fell as much as 11%, Bloomberg reports.
The fall in shares came after the electric car maker reported a lower than expected first-quarter auto deliveries. Tesla delivered delivered 63,000 cars in the first quarter of 2019, down from 90,966 in the fourth quarter.
Tesla C.E.O Elon Musk derives $10 billion of his wealth from Tesla, while about $13 billion comes from his stakes in his Space Exploration Technologies Corp.
The fall in shares has seen the billionaire's network drop to $22.3 billion