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.
Step 1: Piss off liberals by bankrolling MAGA facists and lose 40-50% of the customer base. Step 2: Piss off MAGA and the other 40-50% of the US customer base. Step 3: Profit?
I wish I was as good a businessman as these two.
The only money Trump ever made was by pretending he was rich from a TV show he literally copied from Alan Sugar. Before that he bankrupted everything he touched, how the fuck can you actually bankrupt both a casino and a mortgage company, I probably couldn’t do that on purpose if I wanted to 🤦♂️
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.
Oh yeah baby give me more of that sweet, sweet schadenfreude.
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.
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.
Line go down!? surprised Pikachu face
It would be funny to see musk burn the reputation has with both left wing for everything he’s done up to now. And the right with this fued.
Who will be left to buy his cars?
Not to mention the price is nonsense, no way reflective of their sales numbers or profits.
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.
Yeah these news are so useless. Just look at the chart: it wiped out 152bn which he just gained a few weeks before.
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.
Still fun, I’m enjoying every little jab. Almost, ALMOST got me to reinstall twitter to watch first hand.
I wanna see DOGE archives crap out the Epstein report, or wikileaks, or whatever he can musker.
Then I want to see TACO Tuesday tenuously try to titillate the masses with real sanctions and giving NASA back a budget.
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.
I think they’re not theater, But I think they are definitely being used as as well to do some shit behind our backs.
Sure mush will use the drop in worth to buy more Tesla at a discount, but posting Epstein videos/pictures/links about Taco… That’s not playing around.
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.
Fight, fight, fight.
Eh, Tesler stock value hasn’t even returned to the value it had on April 8th, and even then it was only returning to the pre-election value. When Musk anounced his dark maga bullshit and inserted himself into politics Tesler’s value shot through the roof. Ever since then it seems like investors want to believe that added real value. I’m unconvinced.
* Tesla’s valuation
Important distinction
It’s called pump-and-dump, by the way.
Good point for some day trading probably. The trend with these Trump market manipulations have been so far that he says something, stock crashes, then he says something else, stock goes back up.
My prediction for today: Sharp inital dip, minutes- sharp rise, maybe for an hour?- Slow dip throughout the session, to end lower.
Maybe, I don’t know. If this was a manufactured dip sure, But he’s calling him out for being in the Epstein papers I think they broke up for realz.
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.
It’s a shitcoin fueled by hype. TSLA might as well be on Solana for all the legitimacy the company has.
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Does he still love Tesler?
If this is real, and not some elaborate ruse to manipulate the market, I’m all for it. Fuck these guys.
Hell yeah
