class = “sc-cffd1e67-0 iQNQmc”>
Tesla boss Elon Musk (52) once again disappointed shareholders: Profit before taxes and fees fell by 47 percent in the fourth quarter of 2023 compared to the previous year, falling to $ 2.1 billion. Net profit doubled; but the only reason for this was the one-time tax reduction.
Sales also rose three percent to $25.2 billion. But analysts expected more. This did not convince the shareholders.
Minus 18 billion dollars
This is also confirmed by looking at Tesla’s share price: It fell over 12 percent on Thursday. Due to the decline in stock prices, Musk’s wealth fell by $18 billion. The “oe24.at” portal first reported about the giant diver.
One Tesla share was worth $182.63 on Friday. The price has fallen over 26 percent since the beginning of the year.
But the tech billionaire needn’t worry. Musk still ranks second on Forbes’ real-time rich list. His fortune is still estimated at $204.2 billion after a drop of $18 billion, a decline of 8 percent.
Only he is richer than Elon Musk
Only luxury magnate Bernard Arnault (74) and his family have more money. The Frenchman owns luxury goods maker LVMH, which owns brands such as Louis Vuitton, Christian Dior and Tiffany. Thanks to the luxury boom, the group closed 2023 as a record year, as announced on Thursday. There was applause from shareholders: The share price is up 11.5 percent so far on Friday.
It is not yet known whether Tesla shares will fall further on the US stock market before the weekend. Elon Musk didn’t have much hope. He was forced to admit that deliveries of his electric cars were growing more slowly than before.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
