{"id":222449,"date":"2023-04-22T12:17:11","date_gmt":"2023-04-22T10:17:11","guid":{"rendered":"https:\/\/www.discoverwalks.com\/blog\/?post_type=news&p=222449"},"modified":"2023-05-03T12:13:14","modified_gmt":"2023-05-03T10:13:14","slug":"the-price-of-a-bad-day-elon-musk-loses-nearly-13-billion-in-a-single-day","status":"publish","type":"news","link":"https:\/\/www.discoverwalks.com\/blog\/news\/the-price-of-a-bad-day-elon-musk-loses-nearly-13-billion-in-a-single-day\/","title":{"rendered":"The Price Of A Bad Day: Elon Musk Loses Nearly 13 Billion In A Single Day"},"content":{"rendered":"

Elon Musk’s Net Worth Plummets By About $12.6 Billion Following Tumultuous Few Days For Twitter, Tesla, And SpaceX<\/h2>\n

According to Bloomberg\u2019s Billionaire Index, the net worth of Twitter, Tesla, and SpaceX CEO Elon Musk plummeted by a whopping $12.6 billion. The dip comes after a chaotic day (Thursday 4th April 2023) for three of Musk\u2019s biggest companies. That is Tesla, Twitter, and SpaceX.<\/p>\n

After Thursday\u2019s events, Bloomberg reports that Elon Musk\u2019s net worth now stands at $164 billion. He still maintains his second-place position in the list of wealthiest people in the world.<\/p>\n

He lost the pole position late last year to Bernard Arnault, the chair and CEO of luxury goods giant LVMH Moet Hennessy Louis Vuitton. Bernard\u2019s current net worth is $211 billion.<\/p>\n

The nearly $13 billion plunge in Musk\u2019s wealth is the sharpest single-day drop from him this year according to Bloomberg.<\/p>\n

A Summary Of Thursdays Events<\/h2>\n

On Thursday morning, Tesla published rather disappointing first-quarter results. The electric-car company reported a nearly 20% decline in its margins. The company also made a pledge to continue cutting automobile sticker prices which led to a 9.7% stock drop as investors exited. This saw a $58 billion decline in Tesla\u2019s market cap!<\/p>\n

On another front, SpaceX was having a very eventful day as well that ended rather explosively. On the same day, 4\/20 as Musk often refers to it, SpaceX was launching its Starship spacecraft in a test flight.<\/p>\n

Four minutes into the test flight, the spacecraft experienced a \u201crapid unscheduled disassembly.\u201d That means it burst into flames mid-flight. While the flight did achieve something by providing data to be used in future tests, there is no denying that the explosion was a rather expensive catastrophe.<\/p>\n

Meanwhile, at Twitter, a controversy was brewing on 4\/20 too. Elon Musk decided to come good on his promise to remove legacy blue check marks from the platform. This is in a bid to get people to pay for his Twitter Blue feature.<\/p>\n

This development has been met with criticism as many celebrities and public features announce they won\u2019t be paying for the feature. Advertisers and media organizations are keeping a close eye on the situation because of concern that the removal of historically verified checkmarks may result in an increase in disinformation.<\/p>\n

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      Check Amazon\u2019s best-seller list for the most popular travel accessories. <\/a>We sometimes read this list just to find out what new travel products people are buying.<\/strong><\/p>\n<\/div>\n<\/div>","protected":false},"author":1717,"featured_media":222453,"template":"","categories":[4068],"subject":[4430],"class_list":["post-222449","news","type-news","status-publish","has-post-thumbnail","hentry","category-business-and-technology","subject-tech-science"],"acf":[],"yoast_head":"\nThe Price Of A Bad Day: Elon Musk Loses Nearly 13 Billion In A Single Day - Discover Walks Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.discoverwalks.com\/blog\/news\/the-price-of-a-bad-day-elon-musk-loses-nearly-13-billion-in-a-single-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Price Of A Bad Day: Elon Musk Loses Nearly 13 Billion In A Single Day - Discover Walks Blog\" \/>\n<meta property=\"og:description\" content=\"Elon Musk’s Net Worth Plummets By About $12.6 Billion Following Tumultuous Few Days For Twitter, Tesla, And SpaceX According to Bloomberg\u2019s Billionaire Index, the net worth of Twitter, Tesla, and SpaceX CEO Elon Musk plummeted by a whopping $12.6 billion. 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