Musk Recently held the annual Tesla At the “We, Robots” event, he showed off several visually striking prototypes of Tesla robots. This includes the highly anticipated prototype Network cab and robot. The demonstration piqued the interest of many attendees, who were generally impressed with the innovation on display. However, despite the interest generated by the event, Tesla’s presentation did not appear to resonate with shareholders or the financial community. fell. wealth.
On the Friday after the event, Tesla stock It fell more than 9%, from $238.77 to $217.80 per share. since Musk Owning 13% of Tesla stock, his net worth is directly tied to the company’s market valuation. Musk’s wealth fell by $15 billion as his stock price fell. Despite this, he remains the richest man in the world, with a total net worth of $240 billion.
The main reason is Stocks fell Analysts skeptical of Tesla’s plans robotaxi fleet. Many feel there are insufficient details about the fleet and are concerned about the feasibility of the promised timetable for a mass release. In addition, Musk has previously promised to launch more affordable Tesla models, but has made little progress on this front, disappointing some stakeholders. This could also cause the stock to fall.
This is not the first such market reaction. A few months ago in July, Musk’s net worth dropped after the “We, the Robots” event originally scheduled for August was postponed. At that time, Tesla’s stock price fell 7%, continued to fall in August, and rebounded slightly in September. Despite these fluctuations, Musk’s wealth remains higher than the market caps of companies like McDonald’s and PepsiCo.
