NEW YORK (Netflix): This week hasn’t been a good one by any means for billionaire Elon Musk. Not only was Tesla stock down sharply, but it was also a turbulent week for Twitter and SpaceX.
is reading: Secret documents reveal that China is preparing its own supersonic spy planes
SpaceX exploded
On Thursday, a giant SpaceX rocket exploded during a test flight. Watch the video here:
The ride around the order should take an hour and a half. Instead, it was over in four minutes when the ship plunged into the Gulf of Mexico. The missile reached a maximum height of 39 kilometers above the ground.
Elon Musk and Twitter also came under fire after they began slapping “government-funded” and “state-affiliated” labels on the Twitter accounts of publicly funded broadcasters. But this week, the company reversed itself and removed the stickers.
Profit decreased by 24 percent
Tesla also provided first-quarter figures this week, figures that showed profits fell 24 percent from the first quarter of last year to $2.5 billion in the first quarter of this year. Trading ended at $23.3 billion, an increase of 24 percent, NTB writes.
Read: Tesla Makes Big Pricing Changes – Some Models Are Getting Huge Discounts
The operating margin decreased from 19.2 percent in the first quarter of last year to 11.4 percent in the first quarter of this year. The results disappointed the market, and Tesla’s share fell 5.8 percent in after-hours trading on Wall Street after the results were shown on Wednesday.
The decline continued Thursday, with Tesla stock down 9.75 percent. Despite the decline, Tesla shares are up 33 percent so far in 2023. On Friday, the stock opened slightly higher at the Wall Street open, about 1 percent.
Read: Tesla definitely crushes all competition
Assets decrease 133 billion
But according to Business interested It has caused a huge drop in Elon Musk’s fortune in the past turbulent week.
numbers from Bloomberg Billionaires Index It shows that Elon Musk’s values fell by about 12.6 billion on Friday, which is equivalent to NOK 133 billion.
Elon Musk’s net worth is now down to $164 billion, making him the second richest person in the world, after LVMH CEO Bernard Arnault’s net worth of $211 billion.
Read: Twitter leak: Less than half of what Musk paid
– It’s been a disastrous week for Elon Musk, he writes Atlantic Ocean.
Bloomberg calculates Musk’s net worth based on stakes of 13% in Tesla, 42% in SpaceX, and 79% in Twitter.
However, a small bright spot came out on Friday, when it became known that a California state court jury had concluded there was nothing wrong with Tesla’s autopilot in connection with an accident in 2019.
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