Elon Musk’s net worth has plummeted by a staggering $15 billion following the latest launch of Tesla products.
Last week, Tesla unveiled its first self-driving car – called the Cybercab – at its We, Robot event in LA, along with the Robovan and a pledge to bring humanoid robots to market.
But instead of giving the electric car maker a much needed shot in the arm, the opposite seems to have happened, with the company’s share price plummeting follow the unveiling.
This in turn, has seen Tesla CEO Elon Musk’s net worth drop by an eye-watering $15,000,000,000.
But before you start feeling too sorry for the guy, rest assured that he is still the richest man in the world despite this – although its might not be ideal in his quest to become the world’s first trillionaire.
At the unveiling of Tesla’s new products on Thursday (October 10), Musk promised that the Cybercab would be on sale before 2027 for around $30,000, Quartz reports.
However, shareholders weren’t best pleased with the announcement, and had been hoping for some more concrete details about how the cars would be made, when exactly they’d go on sale, and whether the tech would even work.
As a result, Tesla’s stock fell rapidly after the event. In pre-trading the following morning, stock was down five per cent, and by the end of the day this had dropped to nine per cent, according to Business Insider.
Musk holds about 13 per cent of Tesla’s stock, so this was bad news for him. Tesla shares are currently around $217 each, having been at $240 before the product unveilings.
Despite this financial shock, Musk is still the richest person in the world, and has an estimated net worth of more than $245 billion, according to Forbes.
He’ll no doubt still be hoping for a recovery in Tesla’s share price though…
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