Elon Musk (Reuters)
Elon Musk
Tesla shares fell 9.75% in one session
Billionaire Elon Musk’s fortune lost $12.6 billion of its value in one day, after the shares of his company, “Tesla”, fell yesterday, Thursday, by 9.75% to $162.99, bringing its market value to $510.72 billion, especially as it acquires the largest share of his wealth.
Musk topped the most losing billionaires in the “Bloomberg Billionaires Index”, bringing his total wealth down to $164 billion, ranking him second in the world’s billionaires, after Bernard Arnault, Chairman of the Board of Directors of the French luxury goods giant LVMH, with a total wealth of $211 billion, according to the index I looked at. It is “Al-Arabiya.net”.
The decline in Elon Musk’s wealth came in light of the negative events that the billionaire has been facing over the past two days, starting with Tesla’s announcement that its quarterly profits fell by 24% in the first quarter of 2023 to $2.5 billion. Although the company’s revenue rose more than 24% in the first quarter, it fell short of analysts’ expectations.
Tesla has reduced the selling prices of its cars 6 times since the beginning of this year in an attempt to stimulate demand for its production.
The other most prominent negative event, at the level of his second company, SpaceX, came with the explosion of its “Starship” rocket, the largest and most powerful in the world, intended for trips to the moon and Mars, on Thursday.
The 120-meter-long Starship is longer than NASA’s new giant SLS rocket (98 meters) launched on a first mission in November, and the Saturn 5 rocket (111 meters) for the Apollo missions.
Also, the “Starship” was supposed to have a take-off power twice as strong as the “SLS” and “Saturn 5”, making it the most powerful missile in the world.
And while Musk’s ambition to build his “colony” on Mars was again disappointed, the founder and CEO of SpaceX tweeted, on Twitter, saying: “Congratulations to the SpaceX team on the wonderful test of Starship! We learned a lot for the next launch test, which will be in a few months.”
At the level of the Twitter company, Elon Musk, its CEO, agreed to strip the famous and wealthy people of the world from the blue verification mark on Twitter after the expiration of the deadline for paying $ 8 for documentation.
