Elon Musk records $6bn loss

Losing money is no joke and the former second richest man in the world, now third, is certainly not laughing.

Business Stance
1 min readApr 21, 2021
A photo of Elon Musk

The CEO of Tesla Motors, Elon Musk, is said to have lost $6 billion as a result of a drastic fall in the company’s shares. Elon’s net worth has suffered a decline, dropping to $150 billion from $197 billion.

According to reports, the reason why the shares of Tesla Motors experienced a drastic decline is that a Tesla car that was allegedly in self-driving mode spiraled out of control and caused an accident that eventually claimed the lives of two people.

The news of Elon’s net worth decline, as well as that of Tesla’s shares, sparked up a conversation on Twitter as regards if he will make a comeback and take back the position of the second richest man in the world or now.

Will the Tesla empire thrive again?

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Business Stance
Business Stance

Written by Business Stance

Business Stance is dedicated to ensuring that every Nigerian comfortably stays one step ahead with an in-depth view of the global financial markets.

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