Car company’s shares dropped by 14.2% and its billionaire CEO’s net worth reduced by $8.73bn
Tesla’s shares dropped by about 14.2% on Thursday at market close, wiping roughly $152bn off the value of the company as a feud between Elon Musk and Donald Trump erupted into public view. The former political allies traded threats and insults through posts on their respective social media platforms throughout the afternoon as the company’s price fell.
The decline in Tesla’s share price on Thursday knocked about $8.73bn off Musk’s total net worth, according to the Bloomberg Billionaires Index. The reported $152bn drop also decreased the value of the company to roughly $900bn.
Tesla has struggled throughout the year amid declining sales and buyers around the world rejecting the automaker due to Musk’s association with far-right politics. Stock traders who had shorted Tesla shares made billions amid the spat, per the Wall Street Journal.
This is like the dozen’th article of Elon getting his wealth “wiped out”
Looking forward to see this exact article again next week. This is noise, not news.
Yeah these news are so useless. Just look at the chart: it wiped out 152bn which he just gained a few weeks before.
Tesla could go to zero and Musk would be just fine.
His real money is in SpaceX, specifically Starlink.
Another company that is likely to fall if Trump makes good on his threat to cancel their contracts.
Still fun, I’m enjoying every little jab. Almost, ALMOST got me to reinstall twitter to watch first hand.
I wanna see DOGE archives crap out the Epstein report, or wikileaks, or whatever he can musker.
Then I want to see TACO Tuesday tenuously try to titillate the masses with real sanctions and giving NASA back a budget.