Elon Musk has lost his spot as the world's richest human, but $Tesla(TSLA.US)$ shareholders are the ones who are suffering.
On Monday, Musk dropped from first to second place on the list of the world's richest humans. He fell behind LVMH Moët Hennessy Louis Vuitton (MC. France) CEO Bernard Arnault as shares of Tesla continued to drop in response to concern that Musk's tweets and efforts to overhaul Twitter are damaging the electric-vehicle company's brand.
That means arresting the slide means changing Musk's behavior on his social media platform.
Tesla (TSLA) stock dropped 6.3% to start the week, finishing Monday's trading session at $167.82. The drop cut roughly $8 billion off Musk's wealth, according to Barron's calculations, putting his net worth at about $$180 billion.
Comments