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.
Maybe we’ll get lucky and they’ll fued each other into oblivion.
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.
It’s all computer
I love tesler
What’s hilarious is Tesla was propped up by maga buying it cuz Trump said to. And maga probably won’t be able to win primaries let alone generals without musks money.
Like wasn’t it just a month ago the BBB passed the House by a single vote after Musk had to threaten to back primary challengera against Republicans that voted against it?
I wonder if that had any meaningful effect whatsoever… Maga isn’t into EVs. Not even if Trump tells them to.
everything’s computer
I Love Tesler!
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.
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.
It’s like Caesar and pompey if there was 10x more lead in the water supply
thats why hes flailingt.
As much as I love to see musk eating shit; I am also bracing myself expecting democrats to embrace him as an “Ally.” American politicians just love it when the most evil corporate monsters are on their side.
They’ve been waiting for this moment since he delivered his nazi salute.
well its specifically two democrats, Ro Khanna and Ritchie Torres https://www.foxnews.com/politics/democrats-begin-embrace-musk-amid-trump-spat-after-party-railed-against-him-dictator. Khanna is incidentally the house representative for Silicon Valleys district, and Torres is of course a Zionist stooge
Democrats are back to their pre-party switch status
And we’ll find out in a few decades that politicians from both sides bought tons of stock futures to short the stock hours before this happened.
The black eye was signal enough to short that only a moron couldn’t see this as the start of the breakdown. We’ve been waiting for this to come to a head since the campaign trail. No one is supposed it is happening. Most are surprised it took this long.
Encore!
Is because the right can hate on Musk again now that thier leader is, again?
Oh no, is the company not considered stable if it loses its government welfare?
from the biggest welfare queen.
The only thing that was propping their stock up was the investors acknowledging that Elon’s proximity to the White House would allow him to pull strings to get preferential treatment for his companies. You know, blatant corruption. Now it’s going to he the opposite.
The rich pretend they’re all powerful but really they have a much less secure money source. Where as we know our money is ours the rich can lose everything like that. Elon could go broke in a single day he’s on his way out of the billionaire club because now everyone hates him
Trump’s Big Beautiful Bill AND Musk’s publicly traded stocks tanking? In one week?
Are we sure the bill is tanked?
Like Telsa’s stock, it’s on a downward spiral this week, but it’s far from dead.
We have seen those things already… The Republicans will say that there’s snowball chance in hell that they will pas it then at 4am will pass it with a single vote.
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.
I agree, I’m almost there.
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?
I wouldn’t be sure about the Big Billionaire Bill (that’s more apt name) I’m sure Republicans will fold and pass it at 4am with some modifications
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.
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.
actual finances of the company
never has, never will.
At a point where all of their life time sales make up half of what the Musk payout was? Yeah, it’s just irrelevant.
Maybe someday. 🤞🏾And then Phoney Stark won’t have to worry about whether we’re taxing billionaires enough 🙏🏾
