Elon Musk, one of the most influential figures in the current US government and the richest man in the world, saw his personal fortune dip by close to USD 10 billion in just a matter of a day.
Tesla Drowns At Wall Street
As the US markets closed with a dramatic drop in value across different indices, many crucial stocks listed on these indices also lost their value.
One of the most crucial stocks listed on the NYSE, Tesla, also drowned in red on Friday's trade. As a result of this slump, a chain reaction of sorts has placed Elon Musk's wealth.
Elon Musk is also the de facto head of the Department of Government Efficiency or DOGE.
Musk's Personal Wealth Takes Hit
Talking about the shares, Tesla, which is the biggest contributor to Musk's mammoth wealth, saw its stock price crash by 4.68 per cent or USD 16.60 per piece.
This took the overall value of the company shares to USD 337.80 per piece. As a result of this, the company's value in terms of market capitalisation slumped to USD 1.086 trillion.
Talking about Musk's personal wealth, according to Forbes Publication, Musk was among the many losers today. This is because his net worth, as per latest figures dropped by a colossal USD 9.3 billion, or around Rs 80,000 crore, wiping out about 2.38 per cent of his total wealth.
He is followed by his arch-rival and Meta head, Mark Zuckerberg, who has a total net worth of USD 236 billion. | Photo: Twitter Image
This brought the total net worth down to USD 384 billion, as it was inching closer to the USD 400 billion mark.
He is followed by his arch-rival and Meta head, Mark Zuckerberg, who has a total net worth of USD 236 billion.
This slump in company shares is attributed to the company's current prospects, which look largely dim.
The EV maker reported a significant drop in its overall sales figures in January 2025, with a major decline in merging from crucial markets like California in US, and Spain and other countries in Europe.
