As Tesla shares fell 13 percent on Thursday, a day after the company reported it missed fourth-quarter revenue estimates, the net worth of its CEO and owner, Elon Musk, fell by more than $18 billion. dollars. Nevertheless, Musk remains the richest person in the world.
Tesla shares fell 13.2 percent to $180.38 on Thursday, and Musk lost $18.8 billion.
The decline followed the company’s fourth-quarter earnings report, which missed estimates. Revenue for the quarter was $25.17 billion, compared to expectations of $25.87 billion.
Shares in U.S. electric car makers Rivian and Lucid also fell one percent and six percent on Thursday.
Musk lost $18.8 billion on Thursday, a drop of more than $17 billion compared to any other billionaire, according to Forbes calculations. Musk, who owns about 21 percent of Tesla, remains the richest person in the world with an estimated net worth of $203.6 billion, still roughly $20 billion more than LVMH’s Bernard Arnault.
Musk had a net worth of $320 billion in November 2021 and is the first person in history to reach such a net worth.
