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Tesla share plunge amid Trump feud wipes $152bn off Elon Musk’s company(www.theguardian.com)

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MicroWave@lemmy.world
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Car company’s shares dropped by 14.2% and its billionaire CEO’s net worth reduced by $8.73bn

Tesla’s shares dropped by about 14.2% on Thursday at market close, wiping roughly $152bn off the value of the company as a feud between Elon Musk and Donald Trump erupted into public view. The former political allies traded threats and insults through posts on their respective social media platforms throughout the afternoon as the company’s price fell.

The decline in Tesla’s share price on Thursday knocked about $8.73bn off Musk’s total net worth, according to the Bloomberg Billionaires Index. The reported $152bn drop also decreased the value of the company to roughly $900bn.

Tesla has struggled throughout the year amid declining sales and buyers around the world rejecting the automaker due to Musk’s association with far-right politics. Stock traders who had shorted Tesla shares made billions amid the spat, per the Wall Street Journal.

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brygphilomena@lemmy.dbzer0.com
3 points

It would be funny to see musk burn the reputation has with both left wing for everything he’s done up to now. And the right with this fued.

Who will be left to buy his cars?

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Scotty_Trees@lemmy.world
13 points

This is like the dozen’th article of Elon getting his wealth “wiped out”

Looking forward to see this exact article again next week. This is noise, not news.

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rumba@lemmy.zip
3 points

Still fun, I’m enjoying every little jab. Almost, ALMOST got me to reinstall twitter to watch first hand.

I wanna see DOGE archives crap out the Epstein report, or wikileaks, or whatever he can musker.

Then I want to see TACO Tuesday tenuously try to titillate the masses with real sanctions and giving NASA back a budget.

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I_Has_A_Hat@lemmy.world
2 points

Tesla could go to zero and Musk would be just fine.

His real money is in SpaceX, specifically Starlink.

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WindyRebel@lemmy.world
16 points

My opinion is that all of these public fights are just theater distracting from passing things behind our back. In a few days they will suddenly make up after they pass whatever they want.

I am so fucking tired of the political bullshit.

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rumba@lemmy.zip
5 points

I think they’re not theater, But I think they are definitely being used as as well to do some shit behind our backs.

Sure mush will use the drop in worth to buy more Tesla at a discount, but posting Epstein videos/pictures/links about Taco… That’s not playing around.

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Bieren@lemmy.world
14 points

And they will make up in a few days. Trump will give his fuck boy a few extra government contracts. All of musks stocks will soar. Unless someone actually starts doing something other than post on whatever social media. This is nothing more than market manipulation.

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rayyy@lemmy.world
7 points

Fight, fight, fight.

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