“Isn’t Twitter supposed to be dead by now?says one of the messages of Elon Musk, the richest man in the world who has just acquired the bird’s social network and has been on everyone’s lips in recent days. Did Musk know that this acquisition would be so expensive?
This week the billionaire lost a total of 8.6 billion dollars in a single day as a result of a 6.8% drop in the shares of Teslahis automotive company, on the New York Stock Exchange.
In this sense, the businessman has lost 100.5 billion dollars of his fortune so far this year, which becomes the largest drop ever recorded in the Bloomberg Billionaire Index.
Tesla Stock
Tesla’s shares have fallen more than 59% since 2021 on mounting recession fears, low demand for electric cars and the high-profile acquisition of Twitter, which has undermined investor confidence, according to a report from Fortune.
Likewise, the recent drop in Tesla’s assets occurs when the company had to recall 300,000 vehicles due to defects found in taillights and is facing problems in supply chains and rising costs of raw materials.
What does the purchase of Twitter have to do with all this?
Elon Musk still owns 15% of the shares of his electric car company, however, he has recently divested several of them. For example, earlier this month, weeks after his last acquisition, he sold $4 billion worth of Tesla assets.
This sale is added to others that he made this year. In this sense, although he has not confirmed it, the analysts explain that the billionaire has seen the need to sell more shares to continue financing the operation of the social platform.
Even so, Elon Musk remains the richest man in the world with a fortune of 180 billion dollars surpassing Bernard Arnault, Gautam Adani and Jeff Bezos, in the Bloomberg Billionaires Index.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.