Tesla’s stock has suffered a sharp decline in recent weeks, wiping billions off the company’s market value and significantly reducing Elon Musk’s personal wealth. The losses coincide with a public clash between Musk and former President Donald Trump, which has unsettled investors and raised concerns over Musk’s political involvement.
In early June, Tesla shares plunged by around 14% in a single day, erasing roughly $150 billion from the firm’s valuation. This dramatic fall caused Musk’s net worth to shrink by about $34 billion. The drop followed a heated exchange on social media between Musk and Trump, sparked by Musk’s criticism of the recent tax and spending bill supported by the former president.
The dispute escalated when Trump threatened to withdraw government contracts from Musk’s companies, further worrying shareholders. Musk’s brief period working with the Trump administration also drew scrutiny, with critics questioning potential conflicts of interest and the influence of politics on Tesla’s business decisions.
Despite some recovery in Tesla’s share price since the turmoil, the episode underscores the risks of the close entanglement between business leaders and political figures. Investors remain cautious as the company navigates ongoing volatility amid broader market pressures and public controversies.
Elon Musk’s fortunes remain closely tied to Tesla’s performance, making the stock’s swings a direct reflection of his wealth. The recent losses serve as a stark reminder that political disagreements can carry heavy financial consequences in today’s interconnected world.
REFH – newshub finance
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