Tue. Nov 19th, 2024

After Tesla Shares Fall, Musk Suffers a $16 Billion Loss in One Day

Elon Musk, the owner of Tesla, lost $16 billion in a single day as a result of a 9.3% decline in Tesla shares, according to information from the Bloomberg Billionaires Index

After it was revealed that the company’s net profit at the conclusion of the previous quarter had nearly doubled, Tesla shares sank to $220 at the close of trade on Thursday.

Tesla Stock 102023
TSLA stock as of 11:49am ET, 10/20/23

Musk continues to hold the top spot in the list of the world’s richest individuals despite a 7% decline in asset value thanks to his estimated $192 billion fortune. /TelegraphNews


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