Elon Musk lost $15 billion in one day, 6 percent of his fortune was lost in 24 hours | Job Binary


Elon Musk, the world’s richest man, lost more than $15 billion in a single day as Tesla shares fell by the most in four months as the carmaker blamed a disappointing delivery report on supply issues, which boosted the number of vehicles heading to customers at the end of the quarter.

According to the Bloomberg Billionaires Index, Tesla CEO Musk’s wealth has decreased by 6% in the last 24 hours, bringing his total wealth to $223 billion as of October 4, 2022. The Bloomberg Billionaires Index is a daily ranking of the world. the richest people. The figures are updated at the end of each trading day in New York.

Tesla delivered 343,830 vehicles to customers in the past three months, falling short of the 358,000 total expected by analysts polled by Bloomberg. Tesla shares fell more than 8% on Monday, their biggest one-day drop since June 3. It was also the worst performance for the S&P 500, which had its best day since July.

“Historically, our delivery volumes have been skewed towards the end of each quarter due to regional car batching. As our production volumes continue to grow, it becomes increasingly difficult to maintain vehicle transportation capacity and reasonable costs during peak logistics weeks,” US-based Tesla said in a statement. At the same time, Musk said on Twitter that this is his goal. steady deliveries between quarters, adding that the customer experience suffers from the end-of-quarter rush.

Elon Musk is the CEO of Tesla, which sells electric cars and home solar panels. Musk is also the CEO of SpaceX, the rocket maker that NASA proposed to resupply the space station, and has a stake in the social networking company Twitter.

It owns about 15% of Tesla, according to an August 2022 regulatory filing. It also owns about 9% of Twitter, a stake it began buying in February 2022. In April 2022, Twitter’s board agreed to support Musk’s proposal for the rest of the company, subject to shareholder approval. In July 2022, he tried to withdraw from the agreement.

(Courtesy of Bloomberg)

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