Tesla CEO Elon Musk's net worth tumbled after the EV maker posted third-quarter earnings that fell short of Wall Street's expectations.
tumbled 9% on Thursday after the EV maker reported disappointing third-quarter earnings.However, Musk remains the world's richest person with an estimated $210 billion fortune.
Tesla's stock price tumbled 9% on Thursday after the EV maker reported third-quarter earnings that fell short of Wall Street's expectations, and CEO Elon Musk hosted anAs a result, Musk — whose 13% stake in Tesla accounts for the lion's share of his personal wealth — saw his fortune slump by over $16 billion on Thursday, according to theHe's still about $55 billion ahead of the second-richest person on the list...
the head of luxury giant LVMH, who has been nicknamed the"wolf in cashmere" because of his ruthless business moves. In other words, Musk could have three bad days like Thursday and still retain his top spot in the wealth rankings.. As of Thursday's close, he had an estimated worth of $155 billion, per Bloomberg.this week, but has inched back up to the number-two spot. Amazon founder Bezos is a close third, with a net worth of $152 billion, per Bloomberg's estimates.
Despite Thursday's slide, Musk's wealth has grown by about $70 billion this year, largely thanks to an upswing in Tesla stock as investors have piled into mega-capOn Wednesday, Tesla reported third-quarter revenues of $23.35 billion, missing Wall Street expectations of $24.06 billion. The automaker posted adjusted earnings-per-share of $0.66, also missing the consensus estimate of $0.74.
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