Bloomberg: Ilon Musk lost more than $16bn overnight

Business

His financial condition has shrunk amid Tesla's poor results in the third quarter.

Bloomberg: Ilon Musk lost more than $16bn overnight
According to Bloomberg Billionaires Index, Ilon Musk, the owner of Tesla and SpaceX, as well as social network X (formerly Twitter), lost $16.1 billion over the day.

It is specified that Musk's fortune declined amid Tesla's poor financial performance in the third quarter. After the publication of the quarterly report, the company's shares fell by 9.3% due to low profits and sales.

Bloomberg notes that despite the financial losses, Musk's equity capital increased by $72.6 billion in 2023 and is now estimated at $210 billion.

Powered by Froala Editor

Share with friends