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Business and Finance

Elon Musk’s fortune slumped by $16.1 billion (R304.72 billion)

Elon Musk’s fortune slumped by $16.1 billion (R304.72 billion) Thursday after Tesla Inc.’s weak third-quarter earnings weighed on shares. Musk, who is the richest person on the planet with a fortune of $209.6 billion (R3.99 trillion), owns 13% of Tesla and derives the majority of his wealth from the auto company. Tesla’s shares fell by 9.3% after it missed both earnings and sales expectations for the quarter. In a conference call following the earnings release Wednesday,...

By 2023-10-20 22:52:40 0 646

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