Elon Musk’s Net Worth Plummets $16 Billion In One Day
After the carmaker reported disappointing third-quarter earnings, Tesla stock dropped 9%. This share price decline brought Elon Musk’s net worth down by $16 billion – in one day. On Wednesday, Tesla reported its third-quarter revenues of $23.35 billion. This fell short of the expected $24.06 billion forecast by Wall Street experts. Similarly, the company’s adjusted earnings-per-share were $0.66, lower than the estimated $0.74. Musk hosted an earnings call that was considered a disaster by finance experts. Musk’s 13% stake in Tesla accounts for the majority of his personal wealth. As a result,...