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Elon Musk loses $100 billion as Tesla's share price continues to sink [1]

['Mark Frauenfelder']

Date: 2022-11-22

Tesla's share price is at its lowest level in two years, making Musk $100 billion poorer than he was earlier this year. Don't feel too sorry for him, though. With a current net worth of $170 billion, he's still the world's richest manbaby.

From Bloomberg:

The electric-car maker comprises the bulk of his fortune and is struggling with burgeoning Covid-related restrictions in China, its largest market outside of the US. The Austin, Texas-based firm recently announced a recall of more than 300,000 cars due to faulty taillights, while also dealing with supply-chain snarls and soaring raw material costs.

Tesla shares dropped 6.8% to $167.87 in New York trading Monday — the lowest since November 2020 — and are down 52% this year. That compares with a 29% decline in the tech-heavy Nasdaq 100 Index.

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[1] Url: https://boingboing.net/2022/11/22/elon-musk-loses-100-billion-as-teslas-share-price-continues-to-sink.html

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