At Tesla's recent robotaxi unveiling event, the company introduced the highly anticipated Cybercab and Robovan prototype models. However, this major event failed to leave a significant impression on many investors and Wall Street analysts. Following the launch, Tesla's stock price declined, delivering a heavy blow to the company's shares and significantly reducing CEO Elon Musk's net worth.
Musk's net worth is closely tied to Tesla, as he holds approximately 13% of the company's shares. Consequently, fluctuations in Tesla's value directly impact his net worth. Last Friday, Tesla's stock plummeted over 9% from $238.77 per share to a closing price of $217.80.
According to Bloomberg's Billionaires Index, updated after the New York trading market closed, Musk's net worth decreased by $15 billion as a result. Nevertheless, with a total net worth of $240 billion, Musk remains the world's richest person.
As early as July, Forbes reported that Musk experienced similar economic losses when the "robot" project was postponed from its original date to August, causing Tesla's stock to drop approximately 7%. The company's share price continued to decline until it rebounded in September, boosting Musk's net worth beyond that of McDonald's and PepsiCo. However, Tesla's stock has yet to return to the intra-year high set in July and declined again this week.
If Musk's substantial compensation plan can be preserved amid current legal proceedings, he will control over 20% of Tesla's shares, thereby enhancing his personal net worth.
