Elon Musk loses $16 billion in a day as Telsa stock sinks

Category: Finance

Elon Musk's net worth dropped by $16 billion due to a significant decline in Tesla shares, which fell over 11% after disappointing earnings. Despite this, he remains the richest person globally with a net worth of $232 billion, significantly ahead of Jeff Bezos. Tesla's profits fell by 45%, although revenue increased slightly. The company faces growing competition in the electric vehicle market.

Keywords: Elon Musk, Tesla, net worth

Source: Quartz

Update At: 7/25/2024

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