Elon Musk refutes claims that he earns $142,690 per minute from Tesla stock declines, stating that he loses more money when Tesla stock falls unexpectedly. Musk’s net worth increased by $96.6 billion between January and June 2023, with Tesla accounting for 23% of his total fortune…
Elon Musk, a tech billionaire, has refuted allegations that he makes $142,690 each minute, stating that he actually loses more money when Tesla stock declines. In response to a user, Musk said that these reports rely on “silly metrics” and that he mainly holds stock in the businesses he helped build.
He clarified that he technically suffers significant losses every time Tesla stock falls unexpectedly. This statement was made in reaction to allegations that claimed Musk’s wealth increased by an average of $2,378 per second over the course of three years, which works out to $142,680 per minute or $8,560,800 per hour. These estimates claim that if he slept for eight hours, he would awaken $68,486,400 richer.
Musk’s net worth reached a high of $340 billion in November 2021 before sharply declining.
This assertion highlights the erratic nature of Musk’s fortune, which is mostly caused by his sizeable Tesla ownership and changes in the stock price of the company.
Conclusion
Elon Musk has denied making $142,690 per minute and stating that he loses more money when Tesla stock declines. He clarified that he suffers significant losses every time Tesla stock falls unexpectedly. Musk’s net worth increased by $96.6 billion between January and June 2023, making him the world’s richest person with a net worth of $248.7 billion. Tesla accounts for 23% of his total fortune. Musk made waves in October 2022 when he paid $44 billion for Twitter. However, he lost $200 billion in net worth in just 13 months due to a sharp decline in Tesla shares. His net worth reached a high of $340 billion in November 2021 before sharply declining.
