Tesla CEO Elon Musk Loses Massive $30B In Wealth As Stock Closes 15% Lower This Week On Earnings Miss, Weak Outlook

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Tesla CEO Elon Musk Loses Massive $30B In Wealth As Stock Closes 15% Lower This Week On Earnings Miss, Weak Outlook

Benzinga2023-10-22

With Tesla Inc shares dropping hard on Elon Musk‘s weak economic outlook from the company’s recent earnings call, the CEO’s net worth has also taken a hit by a massive $30 billion.What Happened: Tesla...

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pushpa
·2023-10-22
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- FGP:
  Share opinion??? $30B is virtual $. Last month won $30B this month lost $30B, playing boardgame monopoly??? 🤭🤭🤭
  2023-10-22
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The revenue total, however, missed a Street consensus estimate of $24.38 billion. The company’s profit of $1.85 billion was lower quarter-on-quarter as well as year-on-year.</p><p style=\"text-align: start;\">The CEO’s comments on rising interest rates, hinting at future price cuts, and subsequent slowdown in developments, including the Gigafactory in Mexico, sent shares tumbling. The company also refused updates on the deployment of its humanoid robot Optimus at its factories and the timeline for delivering the refreshed Model 3 in the U.S..</p><p style=\"text-align: start;\"> &#34;If the macroeconomic conditions are stormy, even if the best ship is still going to have tough times, the weaker ships will sink. We’re not going to sink. But even a great ship in a storm has challenges,&#34; the CEO said during the call.</p><p style=\"text-align: start;\">Shares of Tesla dropped 15.2% this week to $211.99 as of close on Friday after opening at $250.10 on Monday. This is also reflected in the billionaire CEO’s net worth.</p><p style=\"text-align: start;\"><strong>Impact On</strong> <strong>Musk’s Net Worth:</strong> As of Tuesday, the billionaire’s net worth stood at a staggering $234 million. This dropped $30 billion during the course of the week and now stands at $204 billion, as per <strong>Bloomberg Billionaire’s Index</strong>.</p><p style=\"text-align: start;\">Despite the drop, Musk continues in the position of the world’s richest individual, seconded by CEO of LVMH <strong>Bernard Arnault</strong>.</p></body></html>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla CEO Elon Musk Loses Massive $30B In Wealth As Stock Closes 15% Lower This Week On Earnings Miss, Weak Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla CEO Elon Musk Loses Massive $30B In Wealth As Stock Closes 15% Lower This Week On Earnings Miss, Weak Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-10-22 08:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/23/10/35361671/tesla-ceo-elon-musk-loses-massive-30b-in-wealth-as-stock-closes-15-lower-this-week-on-earnings-miss><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>With Tesla Inc shares dropping hard on Elon Musk‘s weak economic outlook from the company’s recent earnings call, the CEO’s net worth has also taken a hit by a massive $30 billion.What Happened: Tesla...</p>\n\n<a href=\"https://www.benzinga.com/news/23/10/35361671/tesla-ceo-elon-musk-loses-massive-30b-in-wealth-as-stock-closes-15-lower-this-week-on-earnings-miss\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLL":"Direxion Daily TSLA Bull 2X Shares","TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/news/23/10/35361671/tesla-ceo-elon-musk-loses-massive-30b-in-wealth-as-stock-closes-15-lower-this-week-on-earnings-miss","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163742630","content_text":"With Tesla Inc shares dropping hard on Elon Musk‘s weak economic outlook from the company’s recent earnings call, the CEO’s net worth has also taken a hit by a massive $30 billion.What Happened: Tesla reported its third-quarter financial results after market close on Wednesday.Tesla reported third-quarter revenue of $23.35 billion, which was up 9% year-over-year. The revenue total, however, missed a Street consensus estimate of $24.38 billion. The company’s profit of $1.85 billion was lower quarter-on-quarter as well as year-on-year.The CEO’s comments on rising interest rates, hinting at future price cuts, and subsequent slowdown in developments, including the Gigafactory in Mexico, sent shares tumbling. The company also refused updates on the deployment of its humanoid robot Optimus at its factories and the timeline for delivering the refreshed Model 3 in the U.S.. \"If the macroeconomic conditions are stormy, even if the best ship is still going to have tough times, the weaker ships will sink. We’re not going to sink. But even a great ship in a storm has challenges,\" the CEO said during the call.Shares of Tesla dropped 15.2% this week to $211.99 as of close on Friday after opening at $250.10 on Monday. This is also reflected in the billionaire CEO’s net worth.Impact On Musk’s Net Worth: As of Tuesday, the billionaire’s net worth stood at a staggering $234 million. This dropped $30 billion during the course of the week and now stands at $204 billion, as per Bloomberg Billionaire’s Index.Despite the drop, Musk continues in the position of the world’s richest individual, seconded by CEO of LVMH Bernard Arnault.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":106543601,"gmtCreate":1697938603355,"gmtModify":1697938610765,"authorId":3584079457608282,"author":{"id":3584079457608282,"authorId":3584079457608282,"name":"FGP","avatar":"https://community-static.tradeup.com/news/4f96275867e9fcc09f90747c0edcd143","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.36%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":9,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":233096964796552,"type":1,"supId":0,"prevId":0,"content":"Share opinion??? $30B is virtual $. Last month won $30B this month lost $30B, playing boardgame monopoly??? 🤭🤭🤭 ","text":"Share opinion??? $30B is virtual $. Last month won $30B this month lost $30B, playing boardgame monopoly??? 🤭🤭🤭 ","html":"Share opinion??? $30B is virtual $. Last month won $30B this month lost $30B, playing boardgame monopoly??? 🤭🤭🤭 "}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":13,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}