Elon Musk’s wealth plummets by $12.6 billion after chaotic 24 hours at Twitter, Tesla, and SpaceX

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Elon Musk on a blue backdrop surrounded by downward pointing arrows
Illustration by Kristen Radtke / The Verge; Getty Images

Elon Musk’s coffers became a smidge lighter on Thursday after his net worth plummeted by $12.6 billion, according to Bloomberg’s Billionaires Index, the biggest drop in Musk’s wealth so far this year. That fall comes on the heels of a fairly tumultuous 24 hours for SpaceX, Tesla, and Twitter, three of the largest businesses under Musk’s leadership.

Tesla published disappointing first quarter results on Thursday morning, reporting an almost 20 percent decline in the company’s gross margins. The EV manufacturer has made several aggressive price cuts to its vehicle lineup in recent months, a move that increased sales despite the struggling EV...

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source https://www.theverge.com/2023/4/21/23692915/elon-musk-net-worth-plummet-tesla-twitter-spacex-420

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