Ellen Root, Barron’s senior writer, talks about what awaits Tesla in 2023 after stocks face a sharp decline on “Colaman’s Countdown.”
Tesla CEO and President Twit Elon Musk He became the first person to lose $200 billion in net worth, according to a Bloomberg report.
Musk, 51, became the second person ever to amass a fortune of more than $200 billion in January 2021, after Amazon founder Jeff Bezos. Musk has now seen his fortune drop to $137 billion after the recent drop in Tesla shares.
Musk witnessed his wealth peak in November 2021, at $340 billion, and he held the title of the richest person in the world until last month. Ultimately, Musk was deposed from the throne by Bernard Arnault, CEO of French luxury giant LVMH.
Tesla shares It’s taken a hit this year, with shares down 65% as of December 30th. Tesla also recently announced price cuts on several of its models, offering a $7,500 rebate for its Model 3 and Model Y vehicles.
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ELON MUSK’S MOST INTERESTING TWEETS OF 2022
Many attribute Tesla’s dismal year to Musk bypassing Twitter in late October, with many arguing he became too distracted with the social media company.
Tesla CEO Elon Musk called for more drilling and fossil fuel resources on Monday, August 29, 2022, warning that humanity could be ‘in trouble’ if exploration is curtailed. (AP Photo/Jae C. Hong, File/AP Newsroom)
Musk completed the $44 billion acquisition after a protracted legal battle and has since worked to expose its wrongdoing. Twitter operations that occurred before buying it.
A sign is seen at Twitter’s headquarters in San Francisco, Thursday, December 8, 2022. (AP Photo/Jeff Chiu, File/AP Newsroom)
“Next month, he needs to name an official CEO of Twitter,” Dan Ives, managing director of Wedbush, told Fox Business.
After Tesla’s terrible year, Musk could make 2023 even better
Musk has already said he will name a new CEO for the social media platform after posting a poll on Twitter asking users if he should step down as the company’s chairman. Musk promised to abide by the results of the survey and later wrote: “I will resign as CEO as soon as I find someone foolish enough to take the job! Software and servers Team.”
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Musk had previously admitted there was a lot going on on his page and hinted at finding a new Twitter CEO.
“Devoted student. Bacon advocate. Beer scholar. Troublemaker. Falls down a lot. Typical coffee enthusiast.”