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.
Step 1: Piss off liberals by bankrolling MAGA facists and lose 40-50% of the customer base. Step 2: Piss off MAGA and the other 40-50% of the US customer base. Step 3: Profit?
I wish I was as good a businessman as these two.
The only money Trump ever made was by pretending he was rich from a TV show he literally copied from Alan Sugar. Before that he bankrupted everything he touched, how the fuck can you actually bankrupt both a casino and a mortgage company, I probably couldn’t do that on purpose if I wanted to 🤦♂️
Wild how international finance is now tied to a feud between a rodeo clown and an adult gundam nerd. I thought the subprime mortgage crisis was stupid but this has to break some record. I’ve accepted that the world will get progressively dumber in my lifetime but at this point I can’t imagine how.
This is funny, but its a bit disappointing that almost no one is talking about how Musk was trying to get his friend appointed head of NASA, thereby assuring long term government contracts with Space X.
Corruption fucking everywhere.
Oh yeah baby give me more of that sweet, sweet schadenfreude.
Go trumpy tank that stock
Well, I called it. People thought Tesla stocks will still recover but so long as he is the CEO, the stocks will only go down.
Line go down!? surprised Pikachu face
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.
My opinion is that all of these public fights are just theater distracting from passing things behind our back. In a few days they will suddenly make up after they pass whatever they want.
I am so fucking tired of the political bullshit.
obfuscation of the BBB, TARIFFS, DOGE cuts. musk doesnt have access to epstein files, hes basically just rehashing whats been reported in the media already.
I think they’re not theater, But I think they are definitely being used as as well to do some shit behind our backs.
Sure mush will use the drop in worth to buy more Tesla at a discount, but posting Epstein videos/pictures/links about Taco… That’s not playing around.
And they will make up in a few days. Trump will give his fuck boy a few extra government contracts. All of musks stocks will soar. Unless someone actually starts doing something other than post on whatever social media. This is nothing more than market manipulation.
Trump’s Big Beautiful Bill AND Musk’s publicly traded stocks tanking? In one week?
Someday we’ll be able to get gif tattoos and I’m getting this one.
If you got fat enough you could make get the fat rolls tattooed like it’s a flip book.
I agree, I’m almost there.
Or just get all of the key frames tattooed around your waist and then twirl around.
This one. This is the comment that got me to put the internet down for today.
Ya know I’ve been told that I have had a great many truly unique thoughts, problem is I must be afflicted by a fae curse because all my truly unique thoughts are fucking horrid.
Subdermal e-ink particles, perhaps?
I wouldn’t be sure about the Big Billionaire Bill (that’s more apt name) I’m sure Republicans will fold and pass it at 4am with some modifications
Are we sure the bill is tanked?
We have seen those things already… The Republicans will say that there’s snowball chance in hell that they will pas it then at 4am will pass it with a single vote.
Like Telsa’s stock, it’s on a downward spiral this week, but it’s far from dead.
It would be funny to see musk burn the reputation has with both left wing for everything he’s done up to now. And the right with this fued.
Who will be left to buy his cars?
he can go scorched earth and directing xitter to attack trump, and primary some of the maga people in congress.
Not to mention the price is nonsense, no way reflective of their sales numbers or profits.
It was lower in April and March. The stock had been oscillating wildly between $375 and $225 all year and has no relation to any of the actual finances of the company. Considering that the budget bill under consideration could remove the clean energy credits that keep the company in the black, the stock should be much lower.
actual finances of the company
never has, never will.
Maybe someday. 🤞🏾And then Phoney Stark won’t have to worry about whether we’re taxing billionaires enough 🙏🏾
At a point where all of their life time sales make up half of what the Musk payout was? Yeah, it’s just irrelevant.
It’s not just that, they need Chinese rare earth minerals…
Like, Musk just spent 15 billion on a factory for batteries that he now can’t afford the raw materials for.
Wow. So he was just too geeked out on K to complain about all the tariff drama the last few months? I thought Xi said they may just straight up stop selling some of that stuff to us? Not sure if it was rare earth minerals or some other rare substance that’s needed for military applications. Elon and Trump are some real fucking geniuses. 🙄
Yeah, it’s all the same shit.
But especially for EV batteries, the tarrifs make the raw materials so expensive a lot of companies are looking to offshore their manufacturing because if they’re made somewhere else, only Americans pay the tarrifs on completed vehicles.
If the raw materials face a 150% tarrif, then even if theyre sold in Canada or Mexico, the tarrifs drive up prices and lowers sales.
As much as I love to see musk eating shit; I am also bracing myself expecting democrats to embrace him as an “Ally.” American politicians just love it when the most evil corporate monsters are on their side.
They’ve been waiting for this moment since he delivered his nazi salute.
well its specifically two democrats, Ro Khanna and Ritchie Torres https://www.foxnews.com/politics/democrats-begin-embrace-musk-amid-trump-spat-after-party-railed-against-him-dictator. Khanna is incidentally the house representative for Silicon Valleys district, and Torres is of course a Zionist stooge
And we’ll find out in a few decades that politicians from both sides bought tons of stock futures to short the stock hours before this happened.
The black eye was signal enough to short that only a moron couldn’t see this as the start of the breakdown. We’ve been waiting for this to come to a head since the campaign trail. No one is supposed it is happening. Most are surprised it took this long.
Democrats are back to their pre-party switch status
It’s still up more than 20% above what it spent most of March and April at.
I want to find one of these people who just bought TSLA at $284 and ask them what possible basis do they have for thinking the company’s earnings will grow by the 6,000% that it needs to in order to start returning anything like the industry average.
Tesla could achieve phenomenal unexpected growth and increase their market share by a factor of ten and they’d still have a massively unsustainable PE ratio.
It’s a shitcoin fueled by hype. TSLA might as well be on Solana for all the legitimacy the company has.
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