Getting Poorer, Elon Musk’s Assets Swept IDR 652 Billion Tech – 18 hours ago

Jakarta, CNBC Indonesia – Elon Musk’s wealth has decreased significantly since Tesla reported poor performance in Q3 2023 some time ago. Most recently, Musk’s assets were estimated to be worth US$ 193 billion or around Rp. 3,070 trillion as of today, Tuesday (31/10/2023).

This figure is based on data from the Bloomberg Billionaire Index. He is still in first place on the list of the richest people in the world, beating Bernard Arnault who has assets of US$ 156 trillion.

Nevertheless, the reduction in Musk’s assets has been quite drastic, reaching US$ 41 billion (Rp. 652 billion) since Tesla’s earnings call was held last Wednesday (18/10).

Before reporting the performance of his electric car company, Musk’s assets were still US$ 234 billion. Overnight after reporting Tesla’s performance, Musk’s assets fell by around 10% or around US$ 24 billion.

Most recently, this is the first time Musk’s assets have reached below US$ 200 billion since June 2023, quoted from Yahoo Finance.

As much as 68% of Musk’s total wealth comes from his share ownership in Tesla. The decline in Tesla’s business performance was a blow to the richest man in the world.

Tesla reported revenue of US$ 19.6 billion in Q3 2023. That figure fell sharply from revenue of US$ 21.3 billion in the previous quarter.

Tesla’s share price fell 10% following the Q3 2023 performance report and continues to decline to this day. Tesla shares closed down 4.8% at US$ 197.36 in trading Monday (30/10).

In total, Tesla shares have fallen 21% this month. However, if you look at the whole of this year, Tesla shares are still up 60%.

[Gambas:Video CNBC]

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