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Elon musk personal net worth is reduced by as much as $100 billion this year, due to drop in Tesla(TSLA) stock price. Tesla is trading almost 57% lower than it’s all time high of $402.67(adjusted to most recent stock split). The stock price has been dropping since the beginning of the year and has been dropping rapidly since the beginning of November. The stock price has dropped by 20% in the last one month alone. The stock price has dropped by more than 50% since the beginning of the year.
The stock price has been dropping ever since Elon Musk confirmed his Twitter purchase. The purchased created as overhang with the Tesla(TSLA) stock price since many of the tesla investors were not happy with the purchase, both retail and institutional investors. The stock price has been dropping ever since the purchase was confirmed. This was further fueled after elon offloaded a further ~$4 billion worth of Tesla(TSLA) stock in the last week.
There is also concern about number of ordered received in the chinese market after the recent drop in prices for the chinese customers, this was addressed by a spokes person from Tesla china and told this is a false rumour. The prices reductions happened at the beginning of the Q4 2022, which should result in a huge quarter for tesla, in both vehicle deliveries and revenue. The drop in prices is expected to result in a drop in the average selling price of the vehicles, which will result in a drop in the revenue per vehicle.
All things considered, this seem to be the biggest drop in any ones personal fortune in a single year according to Bloomberg Billionaire Index.
It will be interesting to see how the stock price reacts to the Q4 2022 earnings report, which is expected to be released in the first week of January 2022 and how Elon navigates Twitter development over the coming months but it is fair to say that the stock price is expected to be volatile in the coming months.
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Further Reading...
Elon Musk is no longer the richest person in the world, according to unofficial rankings. The title has been ceded to Bernard Arnault, a European mogul. This change comes after Tesla’s stock price slipped by ~4% today, and has lost ~58% since the start of the year. Musk has held the title of the world’s richest person for several months, reaching as high as $340 billions thanks in part to...
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Elon Musk, the CEO of Tesla and SpaceX, has reportedly sold around $36 billion worth of TSLA stock since November 2021. This is surprising news, as Musk had previously stated that he would not be selling any more of his TSLA shares. Many are speculating that the reason for Musk’s sudden change of heart is to cover the costs associated with his recent acquisition of Twitter. The deal, which was...
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During a Twitter Spaces event with some of the most notable members of the Tesla Twitter community, Elon Musk stated that he stands by his prediction that Tesla will one day be the most valuable company in the world. In fact, he stated that he is more confident about this prediction than ever before. Currently, Tesla is worth approximately $400 billion, but at its peak, it was valued at over...
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According to the latest 13G/A filing on January 31st, 2022, Elon Musk, the CEO of Tesla, owns 20.6% of the company’s common stock shares. This amounts to a total of 716,022,963 shares, making him the largest individual shareholder of Tesla. Despite selling billions in Tesla stock in 2021 and 2022, Musk’s stake in the company is expected to increase in the coming years due to a compensation package agreement he...
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In a recent interview with Babylon Bee, renowned entrepreneur Elon Musk opened up about his decision to sell Tesla ($TSLA) stock and his motivations behind the acquisition of Twitter. Musk shed light on the limitations he faced while selling Tesla shares, expressed regret over a previous stock sale, and revealed his efforts to prevent Twitter from going bankrupt. Musk’s Limitations in Selling Tesla Stock: During the interview, Musk acknowledged the...
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Live Follower Count
Net Worth 🥈
~198.4 Billions
As of: 2024-05-04 08:12
Live Follower Count
Net Worth 🥈
~198.4 Billions
As of: 2024-05-04 08:12
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