Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Business Musk loses more than $100B as Tesla gives up trillion-dollar company status amid sell-off
Business

Musk loses more than $100B as Tesla gives up trillion-dollar company status amid sell-off

by admin February 28, 2025
February 28, 2025

Elon Musk’s status as the world’s wealthiest person is in no danger of changing.

But since mid-December, the tech titan’s net worth has declined by more than $100 billion, or approximately 25%, as a sell-off in shares of Tesla, his electric car maker, has accelerated in recent weeks.

On Tuesday, the stock closed down another 8% to $302.80 and is off 25% year to date. The latest drawdown comes as new data showed new Tesla vehicle registrations plummeting in Europe, down 45% year-on-year for January, even as overall sales growth of electric-battery vehicles on the continent climbed. Sales in China also recently came in trending down.

Some reports have suggested European buyers are revolting against Musk’s active role in the Trump administration, which is effectively resetting longstanding European relations.

Investors may also simply be locking in the extraordinary gains of the past year or so: Even with the recent drop-off, the stock is still up 52% over the past 12 months.

On Tuesday, Gary Black, managing partner at The Future Fund investment group, said Tesla shares could fall even further this year given an apparent revision in recent Tesla corporate management guidance about deliveries in 2025.

Musk has assumed an unprecedented — and highly controversial — role in American society with his alliance with President Donald Trump and his ostensible leadership of the Trump administration’s Department of Government Efficiency. Musk also leads SpaceX; the social media platform X; the xAI artificial intelligence company; and Neuralink, a company that is exploring brain-chip implants.

Yet Tesla investors have grown accustomed to Musk’s multiple responsibilities — and indeed, continue to value Tesla stock highly because they see Musk as a uniquely capable figure.

To that point, some investors say Tesla’s recent stock reversal may not endure in the long term. The company is expected to deploy a robo-taxi service later this year, and continues to roll out new models to adapt to shifting driver preferences. It is also unveiling its full-self-driving technology in China.

“Tesla’s superior products, new more affordable vehicle, which I believe will be a new form factor and expand Tesla’s total addressable market, and the promise of unsupervised autonomy will sell more Teslas,” Black wrote on X over the weekend.

This post appeared first on NBC NEWS

0
FacebookTwitterPinterestEmail
previous post
Nvidia CEO Huang says AI has to do ‘100 times more’ computation now than when ChatGPT was released
next post
Noble Announces Results of 2025 Shareholder Meeting

Related Posts

Trump implies government could cut contracts and subsidies to Musk’s...

June 8, 2025

Procter & Gamble to cut 7,000 jobs as part of...

June 7, 2025

Shein and Temu see U.S. demand plunge as loophole for...

June 6, 2025

This California startup is cleaning water and removing CO₂ from...

June 6, 2025

Nationwide coordinated retail crime crackdown results in hundreds of arrests,...

June 5, 2025

McDonald’s Snack Wrap is officially making a permanent return

June 5, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Planned Russia-Ukraine prisoner swap descends into blame game and uncertainty

      June 8, 2025
    • Bruce Springsteen’s European tour comes with a warning about the battle for America’s soul

      June 8, 2025
    • Israel says it has killed leader of Palestinian militant group that took part in October 7 attack

      June 8, 2025
    • Colombian presidential hopeful Miguel Uribe shot in Bogota

      June 8, 2025
    • Desperate to get its illegally detained civilians out of Russia, Kyiv offers Ukrainian collaborators in exchange

      June 8, 2025

    Categories

    • Business (1,395)
    • Investing (3,407)
    • Politics (4,562)
    • World (4,471)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing