New Delhi: Elon Musk saw his wealth drop by more than $12 billion in just one day as he faced chaos and disappointing news from his companies – SpaceX, Twitter and Tesla. According to Bloomberg’s Billionaires Index, this is the biggest decline in Musk’s wealth so far this year.
Tesla’s share price fell 9.8 percent after disappointing first-quarter results. Tesla’s operating income for the first quarter of 2023 will drop 24 percent to $2.7 billion as the Elon Musk-run EV maker continues to cut prices of its vehicles. ,ALSO READ: 70-year-old Odisha woman walks miles for pension, FM Sitharaman reacts,
That same day, SpaceX’s integrated Starship spacecraft experienced a “rapid unscheduled disassembly” four minutes into its first test flight. ,Also read: Man brings 1999 iBook to Apple’s Saket store; check what happened next,
SpaceX’s giant Starship rocket exploded on Thursday after launch from the US state of Texas. The rocket lifted off from the launch pad at SpaceX’s Starbase in South Texas but exploded minutes later. The spacecraft failed to reach orbit.
Twitter also went into chaos after Musk removed the legacy blue check mark, leaving hundreds of celebrities depressed.
Despite this latest drop in net worth, Musk still remains the second richest person in the world, behind French tycoon Bernard Arnault, reports The Verge.
Musk’s fortune once reached $320 billion at the end of 2021. Later, he became the first person in history to lose over $200 billion.