Elon Musk's net worth has fallen by $65 billion since he announced he wanted to buy Twitter

Musk's net worth has fallen by $65 billion since he announced his intention to buy the social networking site.

On April 25th, when he announced his plan to buy the social networking site, the stock price of the electric car company was $1,000 per share. The stock market has fluctuated a lot over the past few months, but the losses ofTesla are greater than average. In the same time period, the S&P 500 lost 9% and the Dow Jones Industrial Average lost 7.9%.

In November of last year, Musk's net worth was $340 billion, but it fell to $197.1 billion last month.

The billionaire decided to back out of the $44 billion deal to buy the social media platform due to concerns about the company being in violation of the merger agreement.

According to some financial experts, securing financing for the Twitter deal would be more difficult because of Musk's pledge of billions of dollars of hisTesla stock as security for the takeover. It's not clear if the deal's financing had anything to do with Musk back out.

The company did not immediately reply to the request for comment.