American businessman Elon Musk's fortune has fallen by $70 billion since the first reports of his acquisition of Twitter in April, according to Reuters.
The agency reported that Musk's fortune is currently estimated at $194.8 billion, which is linked to the drop in the share price of his electric car manufacturer, Tesla.
According to Reuters, investors fear that Musk is not paying enough attention to his electric car business, due to his purchase of Twitter, while competition in this sector is increasing.
On October 27, Musk completed the $44 billion purchase of Twitter, and according to documents published on October 31, in the database of the US Securities and Exchange Commission, Musk will dissolve the company's board of directors immediately after its purchase.
According to Bloomberg, he has fired several members of the company's management and plans to cut the number of employees by nearly half.
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