As shares of Tesla sank 13% Thursday, a day after the company reported missed estimates in its fourth-quarter earnings, the net worth of its centibillionare CEO Elon Musk dropped by more than $18 billion, though he remains the richest person in the world.
The sharp declines come after a disappointing fourth-quarter earning report from the electric car ... [+]
Tesla stock sank 13.2% to 180.38 on Thursday, with Musk losing $18.8 billion.
The decline followed the company’s Wednesday fourth-quarter earning report that indicated it missed several estimates—including that revenue for the quarter was $25.17 billion, compared to an estimated $25.87 billion.
Stocks for fellow American electric car makers Rivian and Lucid also dropped 1% and 6%, respectively, on Thursday.
Musk lost $18.8 billion Thursday, a more than $17 billion larger decline than any other billionaire, according to Forbes calculations. Musk, who owns about 21% of Tesla, remains the world’s wealthiest person with an estimated net worth of $203.6 billion, still roughly $20 billion more than LVMH’s Bernard Arnault.
$320 billion. That’s how much Musk was worth in November 2021, first person in history to obtain such a net worth and also his peak fortune.
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