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Elon Musk lost about $100 billion due to the fall in Tesla shares

  • November 28, 2022
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This year alone, Elon Musk, space exploration enthusiast and current owner twitteralso known for owning Tesla and SpaceXlost about $100 billion — given the recent drop in the

Elon Musk lost about 0 billion due to the fall in Tesla shares

This year alone, Elon Musk, space exploration enthusiast and current owner twitteralso known for owning Tesla and SpaceXlost about $100 billion — given the recent drop in the shares of the electric car company. Other reasons attributed to the problem scenario include an increase in the number of big names in the automotive industry (such as BMW) competing in the electric vehicle segment, as well as deteriorating macroeconomic conditions.

It is worth noting the increase in the number of big names in the automotive industry competing in the electric vehicle segment, as well as the worsening macroeconomic conditions.

Recently Tesla lost 700 billion dollars mainly because of the two points noted above. The amount is extremely high and will be enough to cause serious, often irreversible problems in other successful businesses. The businessman owns 50% of the company’s shares, which means an ongoing negative financial profit of $8.6 billion. Even with all the issues explained, this man still tops the list Fortune 500 billionaire🇧🇷 His fortune is estimated at 170 billion US dollars.

🇧🇷Credits: International Business Times / Reproduction)

The aftermath of the Twitter acquisition and the recent difficulties faced by Elon Musk

It’s no secret that the billionaire acquired the famous social network for $44 billion this year. The problems this has created for the successful trader are also obvious. Since taking over the administration of the virtual environment, Musk seeks to introduce new monetization mechanisms to profit from your purchase in the medium term and reduce costs.

Musk intends to implement a new monetization mechanic on Twitter in order to profit from his purchase in the medium term and reduce costs.

Too much attention to twitter worried Tesla investors, reinforcing the scenario described at the beginning of this article. According to Wall Street Magazine, the businessman faces a significant drop in income from the social network, as well as a simultaneous increase in debt and operating costs. Recent results point to a US$13 billion shortfall that Musk pawned at the completion of the controversial acquisition.

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Source: Money Times

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Source: Mundo Conectado

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