Tesla's decline eliminates Musk's $142,690/minute income
Tech billionaire Elon Musk has denied reports that he earns $142,690 a minute, or $8,560,800 an hour, saying he loses a lot of money every time Tesla stock takes a nosedive.
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Tech billionaire Elon Musk has denied reports that he earns $142,690 a minute, or $8,560,800 an hour, saying he loses a lot of money every time Tesla stock takes a nosedive.
In a tweet Sunday, Musk responded to a user who sent a link to a story claiming he makes $142,690 per minute. Musk said such reports were based on "silly metrics" and that he was actually losing more money than he was making.
Tesla's share price has been volatile in recent months, down more than 50% since the start of the year. This has had a significant impact on Musk’s net worth, most notably in relation to his stake in Tesla.
Despite the recent drop in Tesla’s stock price, Musk remains one of the richest people in the world. He is now the second richest man in the world, with a net worth of over $200 billion.
Musk's tweet is a reminder that even the richest people in the world can lose money quickly. It also highlights the importance of diversification, as Musk’s net worth is heavily tied to one company.
The recent decline in Tesla’s share price has been attributed to rising interest rates, concerns about the global recession and increased competition from other automakers
It's unclear when Tesla's share price will recover. But if the company manages to consistently grow its revenue and profits, Musk's net worth could grow again in the future.
Elon Musk is one of the richest people in the world, but he’s not one to lose money. His recent tweet is a reminder that even the wealthiest people can quickly lose their passion.
