Elon Musk Loses $1 Billion In Two Minutes As Tesla Shares Tumble

Tesla reported a record decline in deliveries during the first quarter, down to 63,000 vehicles in the three months that ended in March, from 90,966 in the fourth quarter.

 Share
EMAIL
PRINT
COMMENTS
Elon Musk Loses $1 Billion In Two Minutes As Tesla Shares Tumble

The fall cut Elon Musk's net worth to $22.3 billion on the Bloomberg Billionaires Index. (File)


Highlights

  1. Elon Musk's Tesla Inc shares sank as much as 11 per cent
  2. His net worth falls to $22.3 billion on Bloomberg Billionaires Index
  3. Tesla reported a record decline in deliveries during first quarter

Elon Musk saw $1.1 billion wiped from his net worth in the first two minutes of New York trading as Tesla Inc shares sank as much as 11 percent.

The fall cut his net worth to $22.3 billion on the Bloomberg Billionaires Index as of 9:32 am. The electric-car maker had reported a record decline in deliveries during the first quarter, down to 63,000 vehicles in the three months that ended in March, from 90,966 in the fourth quarter.

About $10 billion of Musk's fortune is derived from Tesla with approximately $13 billion coming from his stake in closely held rocket business Space Exploration Technologies Corp., according to calculations by the ranking.



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)


Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................