Whose attention is on Elon Musk and Tesla, number 1 position in danger? - Newztezz Online

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Friday, January 26, 2024

Whose attention is on Elon Musk and Tesla, number 1 position in danger?

A statement by the world's richest businessman Elon Musk sometimes benefits his company and sometimes causes huge losses. Recently he has given a statement regarding the sales of his company. Due to which not only did the company's shares fall, his wealth also reduced significantly.

Who knows who has caught the eye of the world's richest man Elon Musk and his flagship company Tesla. Both of them have suffered huge losses in their wealth in the last one month. On one hand, the valuation of the company has reduced by more than 210 billion dollars. On the other hand, the net worth of Elon Musk himself has fallen below 200 billion dollars. Now even the position of the richest man in the world is under threat. If we talk about January 25, there has been a decline of more than 12 percent in Tesla shares. Due to which Musk's wealth has declined by more than 18 billion dollars. Let us also tell you why there has been a decline in Musk's wealth.

Musk's statement

Elon Musk has expressed apprehension that Tesla's sales growth may see a further decline in the current year. The special thing is that this decline can be seen even after the price cut. In fact, this apprehension is being raised because the demand is very weak and there is tremendous competition from Chinese EV makers. Even before this, Elon Musk had informed that the company's margin is continuously decreasing. After this warning, the company's shares fell and there was also a decline in wealth.

Shares fell by more than 12 percent

After Elon Musk's statement, a decline of 12.13 percent was seen in the company's shares. After which the company's shares have come down to $182.63. However, in the last one month the company's shares have seen a decline of about 29 percent. A month ago the company's share price was more than $250. During this period the company's shares have declined by $74. If experts are to be believed, Tesla shares may see a further decline in the coming days.

Big fall in valuation

On the other hand, there has also been a significant decline in the valuation of the company. Due to the fall in shares on January 25, the valuation of the company has reduced by 80 billion dollars i.e. 6.65 lakh crores. At present the valuation of the company has come to $572.27 billion. If we talk about the last one month, there has been a decline of 210 billion dollars i.e. Rs 17.45 lakh crore in the valuation of the company. A month ago the market cap of the company was more than $782 billion.

Musk's wealth decreased

On the other hand, there has been a significant decline in the wealth of Elon Musk. According to the data of Bloomberg Billionaires, due to the fall of January 25, Elon Musk's wealth was reduced by 18 billion dollars i.e. Rs 1.50 lakh crore. After which his total wealth has come below 200 billion dollars. The last time Elon Musk's wealth was seen below $200 billion was in June 2023. The special thing is that in the current year itself, there has been a decline in Musk's wealth by about 31 billion dollars i.e. 2.56 lakh crores. If we talk about the last one month, there has been a decline of 40 billion dollars i.e. Rs 3.32 lakh crore.

Number 1 chair in danger

After the decline in wealth, Tesla owner Elon Musk's number one position is in danger. At present, Musk's net worth has come to 198 billion dollars. On the other hand, Amazon owner Jeff Bezos is not far away. Jeff Bezos's total wealth is $183 billion. This means that there is a difference of 15 billion dollars in the wealth of both. Which can end any day and Jeff Bezos can once again wear the crown of the world's number one richest businessman. Jeff Bezos's wealth has increased by $5.84 billion this year.

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