Elon Musk’s Net Worth Drops $18 Billion As Tesla Stock Slides

TOPLINE

As shares of Tesla sank 13% Thursday, a day after the company reported missed estimates in its fourth-quarter earnings, the net worth of its centibillionare CEO Elon Musk dropped by more than $18 billion, though he remains the richest person in the world.

KEY FACTS

Tesla stock sank 13.2% to 180.38 on Thursday, with Musk losing $18.8 billion.

The decline followed the company’s Wednesday fourth-quarter earning report that indicated it missed several estimates—including that revenue for the quarter was $25.17 billion, compared to an estimated $25.87 billion.

Stocks for fellow American electric car makers Rivian and Lucid also dropped 1% and 6%, respectively, on Thursday.

FORBES VALUATION

Musk lost $18.8 billion Thursday, a more than $17 billion larger decline than any other billionaire, according to Forbes calculations. Musk, who owns about 21% of Tesla, remains the world’s wealthiest person with an estimated net worth of $203.6 billion, still roughly $20 billion more than LVMH’s Bernard Arnault.

BIG NUMBER

$320 billion. That’s how much Musk was worth in November 2021, first person in history to obtain such a net worth and also his peak fortune.

FURTHER READING

With Tesla Stock Down 25% In 2024, It’s Time To Take Your Profits (Forbes)