Tesla shares fell by 4% Monday, shaving nearly $5 billion off of Musk's fortune as of 10:30 a.m. ET. That was enough to knock Musk back to the number two spot on Forbes’ list of the world’s richest people. DurotMatthew joins dianebrady to discuss.
Monday morning declaring that “the woke mind virus is either defeated or nothing else matters.”
Arnault also passed Musk twice last Wednesday, but by the time U.S. markets closed, Musk had regained the lead, with an estimated net worth of $185.4 billion, $700 million more than Arnault. On Thursday, the Frenchman held the top spot at the end of the day, worth an estimated $186.2 billion, after investors reacted negatively to a report that Musk might replace some of Twitter’s debt with a personal margin loan backed by Tesla stock. Musk ended the day worth an estimated $185 billion.
Perhaps Musk will ultimately be able to get Tesla back on track, in spite of all the other noise. After all, he’s proven uniquely capable of running multiple companies. But for now, Tesla investors seem to view Twitter as an unnecessary distraction. And as Wedbush’s Ives puts it: “Perception is reality for the Street.”
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