Reuters claims that Elon has a 15% ownership in Tesla, which has plummeted by 58.03% year-to-date. In order to pay for his recent acquisition of Twitter, he traded approximately $15.5 billion worth of Tesla shares.
A Billion Dollar Dent
Musk’s riches are tied mostly to Tesla, but the company has seen income decline owing to rising prices of components, the continuing covid-19 limitations in China, and the suspension of 300,000 Tesla cars owing to defective headlights. When he bought Twitter for $44 billion, it was the greatest purchase of a technological firm up to that point, but it also caused a significant dent in his wealth. Similarly, Musk previously had to justify the almost $56 billion payout deal Tesla gave him years prior in court. Richard Tornetta, a shareholder in Tesla, initiated the grievance in early 2019, alleging that the Tesla board had given Musk an excessively lavish compensation package despite the fact that he was working for the company only approximately half time. His newfound interest in being called “Chief Twit” has only fueled criticism that he’s trying to do too much.
Musk Is Still The Richest Person In The World
