Bloomberg reports that Tesla’s owner has lost nearly $50 billion in the last month © Getty Images / Sean Zanni

The world’s richest person, Elon Musk, has lost over $49 billion since he announced his plans to buy the social network Twitter last month, Bloomberg reports.

According to the Bloomberg Billionaires Index, Musk remains at the top of the rich list, but his fortune has shrunk by roughly one fifth since early April, now amounting to $209.9 billion.

On Wednesday, the news outlet claimed this loss was due in part to a drop in Tesla share price, which fell to the lowest level this year, depriving Musk of some $12.3 billion dollars. The outlet clarified that this steep drop in Tesla’s value was due to investor concerns regarding Musk’s plans to finance the purchase of Twitter.

Tesla shares lost 18.5% of their value in May, after shedding 19% in April. They dropped 7% in Wednesday’s trading, but recovered some of the losses on Thursday, trading at $718.5 per share around 15:00 GMT. (RT)