Elon Musk Loses $1 Billion In Two Minutes As Tesla Shares Tumble

Elon Musk saw $1.1 billion wiped from his net worth in the first two minutes of New York trading as Tesla Inc shares sank as much as 11 percent.

The fall cut his net worth to $22.3 billion on the Bloomberg Billionaires Index as of 9:32 am. The electric-car maker had reported a record decline in deliveries during the first quarter, down to 63,000 vehicles in the three months that ended in March, from 90,966 in the fourth quarter.

About $10 billion of Musk’s fortune is derived from Tesla with approximately $13 billion coming from his stake in closely held rocket business Space Exploration Technologies Corp., according to calculations by the ranking.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections.

https://www.ndtv.com/world-news/elon-musk-loses-1-billion-in-two-minutes-as-tesla-shares-tumble-2018203

Add a Comment

Your email address will not be published. Required fields are marked *

www.000webhost.com