Tesla’s robotaxi event, where the company unveiled its long-awaited Cybercab and Robovan prototypes, did not impress many investors and Wall Street analysts. As a result, the company’s shares fell more than 9%, from $238.77 per share to $217.80. This decline also caused the fortune of Elon Musk, who owns approximately 13% of the company’s shares, to decrease.

According to the Bloomberg Billionaires Index, which was updated after the session closed in New York, Elon Musk’s wealth decreased by 15 billion dollars. However, with a total fortune of $240 billion, Musk remains the richest man in the world.

This isn’t the first time Musk has faced a financial hit following a Tesla presentation. Forbes reported in July that Musk faced a similar financial hit after his We, Robot event was postponed from its original August date and Tesla shares fell nearly 7%. The company’s share price continued to fall until early August, then rebounded in September, pushing Musk’s fortune above McDonald’s and Pepsi. But Tesla shares have yet to return to the one-year high they reached in July before falling again this week.

Musk would control more than 20% of Tesla if his large pay packet survives ongoing legal proceedings, which could add to his wealth.

The Tesla robotaxi presentation left many Wall Street analysts with more questions than answers about the Tesla robotaxi fleet. Analysts have criticized the company’s lack of detail on its driverless car plans and expressed skepticism about the proposed timing of their widespread rollout. This lack of clarity and the lack of a long-promised, cheaper Tesla may have contributed to the stock’s decline.

“Going into the most anticipated product launch in Tesla history, we had a variety of expectations about what the market might learn, and we felt it would be relevant to the direction and discussions surrounding the stock. “Overall, we were disappointed with the content and detail of the presentation,” Morgan Stanley analyst Adam Jonas told Business Insider.

At the event, Musk said Tesla plans to launch autonomous Cybercab models by 2027, and did not specify a launch date for the 20-seat Robovan. The company also unveiled the latest prototypes of its Optimus humanoid robots, which danced, poured drinks and posed for selfies during the event.

Musk said robots will be “the greatest product ever created.”

In posts on social network As the “pioneer and center of the 4th industrial revolution”.