Elon Musk, who bought Twitter in September 2022, continues to damage his own fortune with the changes he has made on the platform. But in the past 24 hours, it has suffered a great loss not only with Twitter, but also with Tesla and SpaceX companies.
So much so that, according to Forbes data, Elon Musk lost $11.4 billion in the last 24 hours. Musk’s current wealth has dropped to $ 173.6 billion. Musk’s fortune increased to $219 billion in 2022.
So why did Elon Musk lose so much money?
The first and most visible reason was the decline in Tesla shares. The company’s share value fell 9.75% in one day. The reason for this decrease was Musk’s statement that he would continue to lower Tesla prices. Investors did not welcome the discounted prices.
Another reason was the disruptions experienced in Starship, SpaceX’s vehicle that aims to transport people to Mars. Launched for the first orbital test on April 20, the rocket exploded in the air about 5 minutes after launch, before it could reach orbit.
The last reason was, of course, the blue bird Twitter. Musk has removed all blue ticks on Twitter that have been given free of charge to verified accounts so far. The blue tick is now exclusive to Twitter Blue subscribers only. While this change has been criticized by many users and companies, it is not known exactly how much is reflected in Musk’s wealth.
Still, Elon Musk remains the second richest person in the world with a fortune of $ 173.6 billion.
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