Saturday, February 4, 2023

Tesla CEO Elon Musk tells employees not to worry about ‘stock market craziness’

Since the beginning of the year, action from car manufacturer Tesla They have fallen by about 70%. In the month of December alone, they have registered a huge drop of 40%.

As reported by Phil Rosen, the reason is business Insiderthat its shares are among the worst valued in the stock index S&P 500, Still, Tesla CEO Elon Musk has told his employees “don’t worry about the craziness, the craziness, of the stock market.”

in an email you have access to reutersMusk has said that he believes that, in the long term, Tesla will be the most valuable company on earth,

Second-hand Teslas depreciate faster than other manufacturers’ electric cars

The automaker’s stock market crash has been linked to weak demand for electric vehicles and Musk’s moves on Twitter. As Tesla’s net worth is falling, so is the billionaire’s wealth. Specifically, Musk would have lost about $140,000 million (about 132,000 million euros) this year.

However, the businessman is still second richest person in the worldBehind only Bernard Arnault, CEO of LVMH luxury goods group.

Tesla thus adds to the spectacular decline of tech giants like Apple, Microsoft, Google, Amazon hey meta (parent company of Facebook, Instagram and WhatsApp), whose combined losses have exceeded 3.5 trillion euros. If that figure is added to Tesla’s decline, the global deficit will exceed 4 trillion euro,

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news