Billionaire Elon Musk’s net worth plummeted by almost $17 billion on June 3 following leaked comments about layoffs at Tesla. The company’s shares fell 9% after it became known about plans to lay off 10% of employees.
A businessman wants to cut staff because he has a “super bad feeling” about the economy. This is reported Forbes USA.
Musk is now worth an estimated $216.8 billion. Musk’s tweets have caused Tesla’s stock price to fluctuate wildly in recent weeks – for example, when he tweeted on May 13 that a deal with Twitter to buy the company was on hold, the auto maker’s shares surged 5.7%.
“It’s great that people want to buy electric cars to help the environment, but most Tesla cars are expensive,” Miller Tabak’s Mayley says. “If he’s worried about the economy so much that he’s laying off 10% of his workforce, what does that tell you about his views on the demand for his cars? A recession won’t be good for Tesla,” he added.
According to CFRA analyst Garrett Nelson, Musk’s comments likely heightened investor concerns about the issue. “Tesla is a fast-growing company that is in the process of ramping up production at two brand-new factories, so the hiring suspension raises a lot of questions. Based on the stock price reaction today, the market is suggesting the worst,” he said.
Musk’s $16.9 billion hit on Friday saw his net worth drop by as much as $55 billion in a year. But he remains the richest person in the world by a wide margin, with $58.9 billion worth. more than runner-up Bernard Arnault of LVMH.
As OBOZREVATEL previously reported, the three richest people in the world – Elon Musk, Jeff Bezos and Bernard Arnault – Since the beginning of the year, a total loss of $ 144.3 billion. And the richest Americans – Musk, Bezos and Bill Gates – have lost a total of $ 115 billion of their fortune.
