Elon Musk loses 13 billion dollars in one day.. How?
American billionaire Elon Musk has been facing negative events over the past few days, starting with Tesla announcing a 24% drop in profits, and reaching the explosion of the largest and most powerful experimental SpaceX rocket in the world. Quarterly profits for "Tesla" fell by 24% in the first quarter of 2023 to $2.5 billion, despite the company's higher revenues, and this led to the electric car maker's share falling by 9.75% last Thursday to $162.99.
Tesla has reduced the selling prices of its cars 6 times since the beginning of this year in an attempt to stimulate demand for its production. The other most prominent negative event for Musk, at the level of his second company, SpaceX, came with the explosion of its “Starship” experimental rocket, the largest and most powerful in the world, intended for trips to the moon and Mars, yesterday, Thursday. The missile succeeded in taking off from Texas, but exploded after about 4 minutes, and became a fireball over the Gulf of Mexico.
And the "Star Ship" is 120 meters long, which is longer than the new giant "NASA" rocket "SLS" (SLS), which is 98 meters long, which was launched on a first mission in November, and from the "Saturn V" rocket. ) with a length of 111 meters and related to the Apollo missions from NASA. The Starship is supposed to have a take-off force twice as strong as the SLS and Saturn 5, making it the most powerful rocket in the world. After these successive events, billionaire Elon Musk lost $12.6 billion of his fortune in one day. The billionaires lost the most in the “Bloomberg” Billionaires Index, bringing his total wealth to $164 billion, making him second in the world’s billionaires, after Bernard Arnault, Chairman of the Board of Directors of the French luxury goods giant “Louistown” (LVMH), with a total wealth of $211 billion.
Musk, 51, is CEO of Tesla and SpaceX, as well as Twitter, which he acquired over the past year.