Elon Musk loses $25 billion in 24 hours

A small slippage that cost Elon Musk nearly 25 billion in 24 hours. After telling shareholders that Tesla is unlikely to keep up the pace this year, sending the group’s stock plummeting, the cryptocurrency-obsessed billionaire insulted Joe Biden on Twitter on Thursday after being snubbed by the House White.

Elon Musk © DR

In the earnings call on Wednesday, January 26, and despite the announcement of record profits, Tesla indicated that supply chain issues could hinder business growth in 2022. A news that will not have failed drive down the company’s stock pricelosing — according to the calculations of Forbes — nearly 25 billion dollars in less than a day in the estimated capital of Elon Musk.

To make matters worse, the next day the billionaire insulted Joe Biden on Twitter after being snubbed by the White House for not inviting him to a forum on electric cars. As a reminder, Elon Musk had already lost 50 million last November following an inappropriate tweet.

Tesla stock plummets

On Wednesday, Tesla said it had realized net income in the fourth quarter of 2021 of $2.32 billiona multiply by eight compared to the previous year and a turnover of 17.7 billion dollars. Even so, the firm said it would likely struggle to keep up with its projections in 2022, sending the group’s shares plummeting.

But a few hours before Tesla spread its record profits to the press, President Joe Biden met with the biggest competitors of Elon Musk’s firm at the White House, in order to applaud their efforts. not not being part of the gueststhe multi-billionaire, annoyed, took to Twitter to post a short message against Joe Biden, not helping the plummeting shares of the company.

It’s not every day that a billionaire loses more than 10% of his wealth in one day and yet, Elon Musk remains the richest person in the world. As a reminder, the boss of Tesla became the first person in history to cross the threshold of 300 billion dollars, last November.

Despite this slippage, Elon Musk is indeed still ahead of the CEO of LVMH, Bernard Arnaultwhose fortune is estimated at $188.6 billion, as well as that of Amazon founder Jeff Bezos, estimated at $165.5 billion.

Source: Forbes

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