Loss of 65% of the value of Tesla
The boss of Tesla, SpaceX and Twitter owes this drop in wealth to the loss of value of his automaker. Tesla has indeed seen its value collapse by 65% in 2022, competed in the electric vehicle market, but also following the takeover of Twitter by its boss. Several observers are indeed concerned to see Elon Musk focus on his new social network. In particular, he has sold more than $39 billion in Tesla shares since November 2021 to finance part of the takeover of Twitter, estimated at $44 billion.
Controversies surrounding the takeover of Twitter
Elon Musk’s first setbacks on the platform have not contributed to reassuring investors either, whether it is the procrastination around the takeover, but also the controversies around the social network, which has seen the reintegration of conspiratorial accounts like that of Donald Trump. The dismissal of more than half of the company’s workforce is also added to the list of controversies that have plagued the billionaire’s social network.