This is why Elon Musk lost $10 billion in one day

At the end of last week, the web was in turmoil after a file accusing Elon Musk of sexual harassment surfaced on the canvas. Accusation that the founder of SpaceX and Tesla of course denied via Twitter as we reported to you last Friday. But as is customary in any scandal involving the most high-profile personalities, the backlash is not long in coming.

We thus learn that the multi-billionaire lost nearly $10 billion (about 9.5 billion euros), last Friday, following a fall in the price of Tesla shares. The reason given by the analysts would be a loss of trustworthy from investors in this notorious case of sexual harassment. This led to a drop in the value of Tesla shares by 6.4%.


Still according to analysts, this plunge in the value of Tesla shares is not, however, solely due to this affair. The recent announcement of the billionaire’s acquisition of Twitter also had significant repercussions.

Read also: Elon Musk wants to create his own social network

Business is not looking good for Elon Musk

The reaction of investors was therefore not long in coming, as you will have understood. Thus, if last Thursday, Elon Musk was still worth around 200 billion euros according to the Bloomberg index, his fortune was only 189 billion dollars and dust, still according to estimates.

That said, analysts suggest that the drop in the billionaire’s fortune, which is closely linked to the share prices of his companies, can also be explained by another reason.

Read also: A Tesla will travel Australia using only solar energy

Since the announcement of his ambition to get his hands on Twitter, it would indeed seem that investors are of the opinion that Elon Musk will devote much less time to his other businesses. Tesla on the front line. Especially since, for finance this ambition, the billionaire should sooner or later tap into his assets. A purpose that apparently investors already apprehend.

And with the lot of bad news that is currently falling on him, the end of the tunnel is still far for this dear Elon Musk.



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