Car company’s shares dropped by 14.2% and its billionaire CEO’s net worth reduced by $8.73bn
Tesla’s shares dropped by about 14.2% on Thursday at market close, wiping roughly $152bn off the value of the company as a feud between Elon Musk and Donald Trump erupted into public view. The former political allies traded threats and insults through posts on their respective social media platforms throughout the afternoon as the company’s price fell.
The decline in Tesla’s share price on Thursday knocked about $8.73bn off Musk’s total net worth, according to the Bloomberg Billionaires Index. The reported $152bn drop also decreased the value of the company to roughly $900bn.
Tesla has struggled throughout the year amid declining sales and buyers around the world rejecting the automaker due to Musk’s association with far-right politics. Stock traders who had shorted Tesla shares made billions amid the spat, per the Wall Street Journal.
Wild how international finance is now tied to a feud between a rodeo clown and an adult gundam nerd. I thought the subprime mortgage crisis was stupid but this has to break some record. I’ve accepted that the world will get progressively dumber in my lifetime but at this point I can’t imagine how.
This is funny, but its a bit disappointing that almost no one is talking about how Musk was trying to get his friend appointed head of NASA, thereby assuring long term government contracts with Space X.
Corruption fucking everywhere.
Trump’s Big Beautiful Bill AND Musk’s publicly traded stocks tanking? In one week?
Someday we’ll be able to get gif tattoos and I’m getting this one.
If you got fat enough you could make get the fat rolls tattooed like it’s a flip book.
Or just get all of the key frames tattooed around your waist and then twirl around.
This one. This is the comment that got me to put the internet down for today.
Ya know I’ve been told that I have had a great many truly unique thoughts, problem is I must be afflicted by a fae curse because all my truly unique thoughts are fucking horrid.
Subdermal e-ink particles, perhaps?
This is like the dozen’th article of Elon getting his wealth “wiped out”
Looking forward to see this exact article again next week. This is noise, not news.
Tesla could go to zero and Musk would be just fine.
His real money is in SpaceX, specifically Starlink.
Another company that is likely to fall if Trump makes good on his threat to cancel their contracts.
My opinion is that all of these public fights are just theater distracting from passing things behind our back. In a few days they will suddenly make up after they pass whatever they want.
I am so fucking tired of the political bullshit.
It was lower in April and March. The stock had been oscillating wildly between $375 and $225 all year and has no relation to any of the actual finances of the company. Considering that the budget bill under consideration could remove the clean energy credits that keep the company in the black, the stock should be much lower.
actual finances of the company
never has, never will.
Maybe someday. 🤞🏾And then Phoney Stark won’t have to worry about whether we’re taxing billionaires enough 🙏🏾
At a point where all of their life time sales make up half of what the Musk payout was? Yeah, it’s just irrelevant.
It’s not just that, they need Chinese rare earth minerals…
Like, Musk just spent 15 billion on a factory for batteries that he now can’t afford the raw materials for.
Wow. So he was just too geeked out on K to complain about all the tariff drama the last few months? I thought Xi said they may just straight up stop selling some of that stuff to us? Not sure if it was rare earth minerals or some other rare substance that’s needed for military applications. Elon and Trump are some real fucking geniuses. 🙄
Yeah, it’s all the same shit.
But especially for EV batteries, the tarrifs make the raw materials so expensive a lot of companies are looking to offshore their manufacturing because if they’re made somewhere else, only Americans pay the tarrifs on completed vehicles.
If the raw materials face a 150% tarrif, then even if theyre sold in Canada or Mexico, the tarrifs drive up prices and lowers sales.
Well, I called it. People thought Tesla stocks will still recover but so long as he is the CEO, the stocks will only go down.
And they will make up in a few days. Trump will give his fuck boy a few extra government contracts. All of musks stocks will soar. Unless someone actually starts doing something other than post on whatever social media. This is nothing more than market manipulation.
Go trumpy tank that stock
It’s still up more than 20% above what it spent most of March and April at.
I want to find one of these people who just bought TSLA at $284 and ask them what possible basis do they have for thinking the company’s earnings will grow by the 6,000% that it needs to in order to start returning anything like the industry average.
Tesla could achieve phenomenal unexpected growth and increase their market share by a factor of ten and they’d still have a massively unsustainable PE ratio.
Ah, that tasty delicious schadenfreude!!
The best part is, in this battle of “wits”, they are both entirely and completely unarmed.
😂 🤣 🖕
Lol. Stealing that. Here, have a meme in exchange.
Somehow I can’t put it past RFK to pedal some semen-ingesting bullshit.
Incels recently decided that having sex with women was gay. That you absorb estrogen through your penis from vaginal fluids. Like osmosis or something. So I guess with their own dubious “logic” chugging cum would be like taking a testosterone supplement.
Truly, a battle of dimwits.
Fight, fight, fight.
If this is real, and not some elaborate ruse to manipulate the market, I’m all for it. Fuck these guys.
The true beauty of these idiots’ refusal to read a book and learn from history is: They will always eat each other in the end.
