Car company’s shares dropped by 14.2% and its billionaire CEO’s net worth reduced by $8.73bn
Tesla’s shares dropped by about 14.2% on Thursday at market close, wiping roughly $152bn off the value of the company as a feud between Elon Musk and Donald Trump erupted into public view. The former political allies traded threats and insults through posts on their respective social media platforms throughout the afternoon as the company’s price fell.
The decline in Tesla’s share price on Thursday knocked about $8.73bn off Musk’s total net worth, according to the Bloomberg Billionaires Index. The reported $152bn drop also decreased the value of the company to roughly $900bn.
Tesla has struggled throughout the year amid declining sales and buyers around the world rejecting the automaker due to Musk’s association with far-right politics. Stock traders who had shorted Tesla shares made billions amid the spat, per the Wall Street Journal.
Oh yeah baby give me more of that sweet, sweet schadenfreude.
Well, I called it. People thought Tesla stocks will still recover but so long as he is the CEO, the stocks will only go down.
Line go down!? surprised Pikachu face
It was lower in April and March. The stock had been oscillating wildly between $375 and $225 all year and has no relation to any of the actual finances of the company. Considering that the budget bill under consideration could remove the clean energy credits that keep the company in the black, the stock should be much lower.
actual finances of the company
never has, never will.
At a point where all of their life time sales make up half of what the Musk payout was? Yeah, it’s just irrelevant.
Maybe someday. 🤞🏾And then Phoney Stark won’t have to worry about whether we’re taxing billionaires enough 🙏🏾
It’s not just that, they need Chinese rare earth minerals…
Like, Musk just spent 15 billion on a factory for batteries that he now can’t afford the raw materials for.
Wow. So he was just too geeked out on K to complain about all the tariff drama the last few months? I thought Xi said they may just straight up stop selling some of that stuff to us? Not sure if it was rare earth minerals or some other rare substance that’s needed for military applications. Elon and Trump are some real fucking geniuses. 🙄
Yeah, it’s all the same shit.
But especially for EV batteries, the tarrifs make the raw materials so expensive a lot of companies are looking to offshore their manufacturing because if they’re made somewhere else, only Americans pay the tarrifs on completed vehicles.
If the raw materials face a 150% tarrif, then even if theyre sold in Canada or Mexico, the tarrifs drive up prices and lowers sales.
Encore!
It’s all computer
I love tesler
What’s hilarious is Tesla was propped up by maga buying it cuz Trump said to. And maga probably won’t be able to win primaries let alone generals without musks money.
Like wasn’t it just a month ago the BBB passed the House by a single vote after Musk had to threaten to back primary challengera against Republicans that voted against it?
I wonder if that had any meaningful effect whatsoever… Maga isn’t into EVs. Not even if Trump tells them to.
everything’s computer
I Love Tesler!
My opinion is that all of these public fights are just theater distracting from passing things behind our back. In a few days they will suddenly make up after they pass whatever they want.
I am so fucking tired of the political bullshit.
I think they’re not theater, But I think they are definitely being used as as well to do some shit behind our backs.
Sure mush will use the drop in worth to buy more Tesla at a discount, but posting Epstein videos/pictures/links about Taco… That’s not playing around.
Fight, fight, fight.
thats why hes flailingt.
Ah, that tasty delicious schadenfreude!!
The best part is, in this battle of “wits”, they are both entirely and completely unarmed.
😂 🤣 🖕
Lol. Stealing that. Here, have a meme in exchange.
Somehow I can’t put it past RFK to pedal some semen-ingesting bullshit.
Incels recently decided that having sex with women was gay. That you absorb estrogen through your penis from vaginal fluids. Like osmosis or something. So I guess with their own dubious “logic” chugging cum would be like taking a testosterone supplement.
Truly, a battle of dimwits.
Eh, Tesler stock value hasn’t even returned to the value it had on April 8th, and even then it was only returning to the pre-election value. When Musk anounced his dark maga bullshit and inserted himself into politics Tesler’s value shot through the roof. Ever since then it seems like investors want to believe that added real value. I’m unconvinced.
* Tesla’s valuation
Important distinction
It’s called pump-and-dump, by the way.
This is like the dozen’th article of Elon getting his wealth “wiped out”
Looking forward to see this exact article again next week. This is noise, not news.
Still fun, I’m enjoying every little jab. Almost, ALMOST got me to reinstall twitter to watch first hand.
I wanna see DOGE archives crap out the Epstein report, or wikileaks, or whatever he can musker.
Then I want to see TACO Tuesday tenuously try to titillate the masses with real sanctions and giving NASA back a budget.
Yeah these news are so useless. Just look at the chart: it wiped out 152bn which he just gained a few weeks before.
Tesla could go to zero and Musk would be just fine.
His real money is in SpaceX, specifically Starlink.
Another company that is likely to fall if Trump makes good on his threat to cancel their contracts.
The only thing that was propping their stock up was the investors acknowledging that Elon’s proximity to the White House would allow him to pull strings to get preferential treatment for his companies. You know, blatant corruption. Now it’s going to he the opposite.
Does he still love Tesler?
The true beauty of these idiots’ refusal to read a book and learn from history is: They will always eat each other in the end.
It’s like Caesar and pompey if there was 10x more lead in the water supply
