Musk has lost more than $100B since December as Tesla gives up trillion-dollar company status amid sell-off
Elon Musk's status as the world's wealthiest person is in no danger of changing.
Elon Musk's status as the world's wealthiest person is in no danger of changing.
But since mid-December, the tech titan's net worth has declined by more than $100 billion, or approximately 25%, as a sell-off in shares of Tesla, his electric car maker, has accelerated in recent weeks.
On Tuesday, the stock closed down another 8% to $302.80 and is off 25% year to date. The latest drawdown comes as new data showed new Tesla vehicle registrations plummeting in Europe, down 45% year-on-year for January, even as overall sales growth of electric-battery vehicles on the continent climbed. Sales in China also recently came in trending down.
Some reports have suggested European buyers are revolting against Musk's active role in the Trump administration, which is effectively resetting longstanding European relations.
Investors may also simply be locking in the extraordinary gains of the past year or so: Even with the recent drop-off, the stock is still up 52% over the past 12 months.
Rating: 5