Massive Crash for Elon Musk – He Loses Billions
The year 2025 started off quite poorly for tech entrepreneur Elon Musk. The reason for this is the car company Tesla. Due to stock price losses, he has now become a few billion dollars poorer. However, the billion-dollar loss will not drive him into ruin.
Severe Stock Crash for Elon Musk
Bad surprise for Elon Musk at the start of the year. On the first trading day of the new year, the Tesla stock lost a significant six percent in value. As a result, the car manufacturer’s market value of around 200 billion dollars decreases. In comparison, this is about 70 billion dollars more than the total of German car manufacturers like Volkswagen, Mercedes-Benz, and BMW.
The steep decline in stock prices also has consequences for CEO Elon Musk. His wealth consists mostly of Tesla shares. According to Bloomberg, his fortune shrinks by a whopping 17.8 billion dollars. However, as the richest person in the world, Musk will likely be able to handle it. According to the “Billionaire Index,” he still has a fortune of 415 billion dollars.
Sales Figures Plummet
The reason for the decline in Tesla stock prices was decreased sales figures. The electric car company sold fewer vehicles last year for the first time in its history compared to the previous year. Initially, the Tesla stock rose with Donald Trump's election victory, as Musk has a close connection to the designated U.S. President.