Elon Musk has reportedly lost $20billion since ‘SNL’ special

The Tesla CEO's net worth plummeted, though not because of his hosting skills

Elon Musk’s net worth has reportedly dropped $20billion since his hosting spot on Saturday Night Live, though not because of his performance.

The business tycoon was the latest guest host of the long-running live variety show on Saturday (May 8), with Forbes  now reporting the Tesla and SpaceX CEO experienced the drop on Thursday. The news came after two of Musk’s big investments — cryptocurrencies like dogecoin or bitcoin, and Tesla stock – lost value.

In spite of the loss, Musk remains the third-richest man on the planet, just slightly beating Microsoft co-founder Bill Gates, who is predicted to be worth $127.6billion.


Elon Musk
Elon Musk arrives on the red carpet for the Axel Springer Award 2020 on December 01, 2020 in Berlin, Germany. (Picture: Hannibal Hanschke-Pool/Getty Images)

Musk was worth an estimated $166billion at the time of appearing on the leading comedy sketch show on Saturday. However during the live show, cryptocurrencies took a hit, with the value of Dogecoin falling more than 30 per cent within 24 hours. Tesla shares had fallen 15 per cent by Thursday.

The episode earned 7.3million viewers, making it the third most-watched episode for the season behind the ones hosted by Dave Chappelle and Chris Rock, according to Nielsen figures.

During his opening monologue, 49-year-old Musk confirmed for the first time that he has Asperger’s syndrome.

“I don’t always have a lot of intonation or variation in how I speak, which I’m told makes for great comedy,” he said. “I’m actually making history tonight as the first person with Asperger’s to host SNL.”


Musk’s wife Grimes also made a guest appearance as Princess Peach in a Super Mario-themed sketch. Grimes has since said that Musk “killed it” on SNL, which she “knows will upset the Grimes fans”.

However, Musk’s appearance also caused uproar. As reported by Bustle, some SNL cast members spoke out against the choice to have the controversial magnate on to host.