Much of Musk’s wealth is derived from shares in Tesla, which tanked nearly 10% on the back of a disappointing quarterly earnings report. The plummeting share price erased $58 billion from the company’s market cap.
, which monitors the real-time wealth of the richest people on the planet, Musk’s net worth was depleted of $12.6 billion on Thursday.
Much of Musk’s wealth is derived from shares in Tesla, which tanked nearly 10% on Thursday on the back of a disappointing quarterly earnings report. The plummeting share pricefor the first three months of 2023—a year-on-year decline of 24%.to boost demand for its vehicles—even in spite of the squeeze on margins.
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