Elon Musk's electric vehicle company Tesla lost $126 billion in one day. Her shares continue
Last year, the rise in Tesla stock prices led to...a sharp increase in Musk's wealth and allowed him to surpass others and take first place in the list of the richest people in the world. The company continues to do well, with the first quarter of 2022 recording record revenues and margins. However, its share prices have been declining since the beginning of this month.
The decline began after Musk said thatacquired a large stake in Twitter earlier this month. Tesla is not directly involved in the Twitter acquisition, but the financial plan the businessman laid out for the buyout includes $21 billion in cash, which analysts say will likely be secured by selling Tesla shares.
Also, a 12 percent drop in Tesla shares inTuesday reduced Musk's stake in Tesla by $21 billion, Reuters reported. However, it's not the loss of money that scares Tesla investors. They're put off by the amount of time Musk is likely to devote to Twitter. If Tesla shares continue to fall this way over the next few days, it could jeopardize the financing of the Twitter deal, market analysts told Reuters.
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