Within a single day, Tesla’s financial results fell short of expectations, a SpaceX rocket suffered an explosion, and Elon Musk’s Twitter removed its verified badges from accounts that had been previously verified.
Tesla Inc.’s Q1 results fell short of expectations, causing the company’s stock to drop by 9.75% to $162.99 on Thursday. Meanwhile, an experimental SpaceX Starship rocket successfully launched in Boca Chica, Texas, but unfortunately exploded four minutes later above the Gulf of Mexico.
In addition, Twitter users who opted not to pay a monthly fee of $8 lost their legacy blue checkmarks, fulfilling a promise made by Elon Musk several weeks prior.
Elon Musk’s net worth was impacted the most by the drop in Tesla’s share price. According to the Bloomberg Billionaires Index, he lost $12.6 billion, marking his largest decline in wealth this year.
His stake in Tesla, which includes shares and options, represents the largest portion of his fortune, currently valued at $163.9 billion. However, as SpaceX’s valuation continues to rise, it has become an increasingly important contributor to his overall net worth.
Elon Musk, aged 51, serves as the CEO of both Tesla and SpaceX, as well as being the owner of Twitter which he acquired in the previous year. Despite the recent decline in his net worth, he still holds the position of the world’s second-richest person, with Bernard Arnault, a French luxury tycoon, being the richest. Musk’s fortune has rebounded by $26.8 billion in 2021, primarily driven by Tesla’s 32% surge in value.
During a recent discussion at Tesla, Elon Musk admitted that “it’s hard to predict what the margin will be” when asked about the level of profitability that the company was willing to accept.
Elon Musk reportedly sent an internal email to SpaceX employees congratulating them on the company’s recent progress and expressing his optimism for the future of the program, as seen by Bloomberg.
Elon Musk also engaged in Twitter activity, including a response to a tweet regarding April 20, which is widely recognized as “420 Day,” an unofficial holiday associated with marijuana culture.
“The decline in Tesla’s share price had an immediate impact on the net worth of billionaire Elon Musk, as reported in an article from Deccan Herald.”
“According to an article from Deccan Herald, Elon Musk has experienced a tumultuous 24 hours.”
On Thursday, Tesla Inc’s shares dropped 9.75% to $162.99 after disappointing first-quarter results were released, as reported in an article from Deccan Herald.
Additionally, an experimental Starship rocket developed by SpaceX achieved liftoff in Boca Chica, Texas, but unfortunately exploded shortly after.
According to an article from Deccan Herald, Tesla’s declining share price had a significant impact on billionaire Elon Musk’s net worth.
The Bloomberg Billionaires Index reported that Musk’s wealth decreased by $12.6 billion, which is his largest decline this year. The drop in Tesla’s share price affected Musk’s stake in the company, as well as his other business ventures.
As stated in an article from Deccan Herald, Elon Musk, who is 51 years old, is currently serving as the CEO of Tesla, SpaceX, and Twitter, the social media platform he acquired in 2020.
Despite the recent decline in his net worth due to Tesla’s share price drop, Musk remains the world’s second-richest person, with a fortune that has since rebounded by $26 billion. He is still behind Bernard Arnault, a French luxury tycoon.
As reported in an article from Deccan Herald, when asked about Tesla’s profitability, Elon Musk acknowledged that “it’s difficult to say what the margin will be.”
According to an article from Deccan Herald, Elon Musk sent an internal email to SpaceX employees congratulating them and expressing optimism about the program’s progress, as reported by Bloomberg.
According to an article from Deccan Herald, Elon Musk also replied to a tweet about 420 Day, an unofficial marijuana holiday, among other things on Twitter.
According to an article from Deccan Herald, Elon Musk, the founder of SpaceX and Tesla, responded to a tweet about 420 Day on Twitter. 420 Day is an unofficial holiday celebrated by some individuals who use marijuana.
It is unclear what Musk’s specific response was to the tweet, but given his history of using social media to engage with his followers and share his opinions, it is possible that he may have made a humorous or provocative comment related to the holiday.
Musk has a reputation for being active on Twitter and using the platform to share updates on his companies, engage with fans, and even announce important news. He has also been known to use the platform to express his opinions on a variety of topics, sometimes sparking controversy or backlash.
Overall, Musk’s response to the tweet about 420 Day is just one example of his active social media presence and willingness to engage with his followers on a variety of topics, both serious and lighthearted.
It’s “shaping up to be quite the day!” he tweeted.
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