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Tesla CEO Elon Musk has seen his net worth nosedive more than $20 billion in the six days since his controversial appearance on Saturday Night Live.
Shares in the celebrity’s electric vehicles firm fell by 15% this week, shrinking Musk’s net worth from $166 billion to $145.5 billion, Forbes reported.
Musk remains the world’s third-richest man, just ahead of soon-to-be divorcee Bill Gates, whose net worth is $127.6 billion.
The collapse has been credited to widespread economic uncertainty and fears about rising inflation.
Hesitancy around US-China relations has also delayed Tesla’s plans to expand its Shanghai factory, further slashing shares’ value.
Musk’s haphazard appearance on ABC’s flagship comedy show last Saturday included a shoutout to cryptocurrencies, including Dogecoin.
But Tesla’s swift reversal on allowing its vehicles to be purchased using Bitcoin over climate change fears burst the crypto bubble and confused investors.
Gates took Tesla to task for its climate change contradictions, pointing out “Bitcoin uses more electricity per transaction than any other method known to mankind.”
The Microsoft founder added: “It’s not a great climate thing.”
Musk used his SNL hosting gig to show his lighter side, playing Wario in one skit and introducing his mum on Mother’s Day.
He also revealed he has Asperger’s and posed with singer Miley Cyrus.
Musk has a 21% share in Tesla plus a stake in spaceflight firm and passion project SpaceX.
Thanks to his unlocking of stock options, he is still more than $100 billion richer than at this time last year.
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