- Elon Musk’s wealth has come beneath strain since Tesla reported third-quarter earnings.
- Musk has an estimated $193 billion fortune as of October 31, per Bloomberg’s Billionaire Index.
- He stays the world’s richest particular person, main LVMH boss Bernard Arnault, who’s price $156 billion.
Elon Musk’s internet price is beneath strain — the CEO of Tesla is price $193 billion as of October 31, in accordance with newest estimates by Bloomberg’s Billionaire Index. It is the primary time his fortune has dropped beneath $200 billion since early June.
Musk — whose 13% stake in Tesla accounts for the lion’s share of his private wealth — has seen his fortune tumble by round $41 billion since Tesla reported disappointing third-quarter outcomes and an earnings name on October 18 that one Wall Avenue analyst dubbed a “mini catastrophe.” His estimated internet price was $234 billion earlier than the electrical car makers’ newest quarterly report card.
Tesla’s share worth took an almost 10% hit following the earnings and has since prolonged its decline. Tesla shares closed 4.8% decrease at $197.36 on Monday, down 21% to date this month. Nonetheless, the inventory is up 60% to date this yr.
Regardless of the slide in his internet price, Musk continues to be the world’s richest particular person forward of Bernard Arnault, the boss of luxurious retail large LVMH Moët Hennessy Louis Vuitton. Arnault is now price $156 billion.
Arnault’s fortune has additionally come beneath strain from a decline in LVMH’s inventory worth as shopper spending on luxurious items — which has been having fun with a growth because the pandemic — reveals indicators of ebbing.
LVMH’s share costs are down over 6% to date this month and are down 1.3% to date this yr.
