Every time Tesla shares decline $2.43, Elon Musk loses another billion dollars
The world’s richest man has lost $100 billion since December.
Tesla CEO Elon Musk has lost $100 billion as the electric vehicle maker’s stock price tanks, dealing a massive blow to the wealth of the world’s richest man.
Investors have soured on the company after it appears that Musk’s ties to the federal government may be hurting Tesla’s future rather than helping it. Musk owns 410,794,076 shares of Tesla as of December, or about 12.7% of the company.
The math is pretty straightforward here: back of the napkin, every time the company’s stock price dips by about $2.43, Musk loses $1 billion. Since its peak, the price has fallen by $241.85.
It’s been a bumpy ride; based on this, there have been 12 days this year alone where Tesla stock declined enough to reduce Musk’s net worth by $5 billion in a single trading period, and three days when he lost more than $10 billion. For perspective, there are only 194 individuals worth over $10 billion on Earth.
Tesla shares peaked at $479.86 on December 17. At that point, Musk’s stake in the company was worth $197 billion.
Tesla shares have dipped about 52% since then, reaching $238.01 on market close on Monday. That has cut Musk’s stake in Tesla to $97.7 billion.
There are lots of reasons why Tesla’s stock is down. Perhaps the simplest, though, is that the brand is more unpopular than ever among Americans, especially the Americans who like to buy electric cars.
