Elon Musk lost $17 billion in one day

Elon Musk lost $17 billion in one day
Credit: global

Tesla shares fell 9.2% amid rumors that Elon Musk plans to lay off 10% of employees.

The billionaire reportedly sent out emails to employees at his company saying it was time to freeze hiring and cut the workforce as Musk had "a very bad feeling about the global economy.

This means that in just one day, Musk lost 17 billion dollars. But at the same time, the entrepreneur still remains the richest person in the world, and his fortune is estimated at $ 216.8 billion.

Amazon CEO Jeff Bezos is second with $171 billion.
"Tesla shares have fallen 33% in a year. The main thing investors are probably thinking is that they want Musk to shut up.

It was strangely calm last week, and stocks are finally doing well," Miller Tabak market strategist Matt Maley told Forbes.

Recall that Tesla is an electric car company. It was founded by Martin Eberhard and Marc Tarpenning in 2003 and named after the famous physicist Nikola Tesla.

In 2004, the founders raised a $7.5 million investment, and Elon Musk contributed $6.5 million. Then Musk became chairman of the board of directors and appointed Eberhard as CEO.

According to preliminary figures, Elon Musk's fortune has shrunk by about 17 billion since the release of this information.

Shares of the electric car maker fell 9.2 percent on June 3, while Elon Musk's total value fell to $ 16.9 billion amid speculation of impending cuts.

The merchant's fortune is estimated at 21 216.8 billion. The purchase price will be $ 44 billion, at $ 54.20 per share, which is 38% higher than the share price at the end of April.

Interestingly, Elon Musk recently talked about creating a new social network and, at the same time, criticized the lack of freedom of expression on Twitter.

Musk was quoted in the media as saying that amid concerns about the US economy, Tesla had ordered the reduction of "about 10% of staff" and the suspension of jobs.

Musk, the world's richest man, is now worth 21 216.8 billion, according to a business publication.

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