Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

Business

Musk loses more than $100B as Tesla gives up trillion-dollar company status amid sell-off

by admin February 28, 2025
February 28, 2025
Musk loses more than $100B as Tesla gives up trillion-dollar company status amid sell-off

Elon Musk’s status as the world’s wealthiest person is in no danger of changing.

But since mid-December, the tech titan’s net worth has declined by more than $100 billion, or approximately 25%, as a sell-off in shares of Tesla, his electric car maker, has accelerated in recent weeks.

On Tuesday, the stock closed down another 8% to $302.80 and is off 25% year to date. The latest drawdown comes as new data showed new Tesla vehicle registrations plummeting in Europe, down 45% year-on-year for January, even as overall sales growth of electric-battery vehicles on the continent climbed. Sales in China also recently came in trending down.

Some reports have suggested European buyers are revolting against Musk’s active role in the Trump administration, which is effectively resetting longstanding European relations.

Investors may also simply be locking in the extraordinary gains of the past year or so: Even with the recent drop-off, the stock is still up 52% over the past 12 months.

On Tuesday, Gary Black, managing partner at The Future Fund investment group, said Tesla shares could fall even further this year given an apparent revision in recent Tesla corporate management guidance about deliveries in 2025.

Musk has assumed an unprecedented — and highly controversial — role in American society with his alliance with President Donald Trump and his ostensible leadership of the Trump administration’s Department of Government Efficiency. Musk also leads SpaceX; the social media platform X; the xAI artificial intelligence company; and Neuralink, a company that is exploring brain-chip implants.

Yet Tesla investors have grown accustomed to Musk’s multiple responsibilities — and indeed, continue to value Tesla stock highly because they see Musk as a uniquely capable figure.

To that point, some investors say Tesla’s recent stock reversal may not endure in the long term. The company is expected to deploy a robo-taxi service later this year, and continues to roll out new models to adapt to shifting driver preferences. It is also unveiling its full-self-driving technology in China.

“Tesla’s superior products, new more affordable vehicle, which I believe will be a new form factor and expand Tesla’s total addressable market, and the promise of unsupervised autonomy will sell more Teslas,” Black wrote on X over the weekend.

This post appeared first on NBC NEWS

previous post
Palestinians were living under occupation before the war. A Palestinian and an Israeli united to show the world their reality
next post
Could the Silver Price Really Hit $100 per Ounce?

Related Posts

Prebiotic soda brand Olipop valued at $1.85 billion...

February 13, 2025

Fanatics will host a skills challenge between fans...

May 22, 2025

Tariffs or not, a Chinese baby products company...

May 21, 2025

Chipotle downplays looming Trump tariffs, says only half...

February 7, 2025

Disney tops quarterly profit estimates but starts to...

February 6, 2025

Walgreens to go private in roughly $10 billion...

March 8, 2025

Denny’s set to close dozens more locations this...

February 17, 2025

Judge allows lawsuit over Burger King’s Whopper ads...

May 8, 2025

X sees major outages as Musk claims ‘massive...

March 12, 2025

Restaurant chain Hooters files for bankruptcy protection to enable founder-led...

April 2, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      Health experts prep Dem lawmakers on anti-vaccine arguments ahead of RFK Jr’s confirmation hearings

      January 28, 2025
    • 3

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 4

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 5

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 6

      Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

      January 30, 2025
    • 7

      Coral bleaching on Australia’s Great Barrier Reef reaches ‘catastrophic’ levels, study finds

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved