Elon Musk's Net Worth Dropped 768 Million Dollars After The Disastrous Cybertruck Unveiling
Complex- After years of anticipation, Tesla finally lifted the curtain on its all-electric Cybertruck this week. And let’s just say not everyone was impressed. During a promotional event in Los Angeles, Tesla CEO Elon Musk unveiled the so-called “bulletproof” vehicle on stage, touting its unique design, performance capabilities, and overall toughness. To demonstrate the vehicle’s durability, Musk asked his chief designer, Franz von Holzhausen, to take a sledgehammer to a standard truck door and then the Cybertruck’s stainless steel door. As expected, the former was left with a huge dent, while the latter was left without a mark. “You want a truck that’s really tough? Not fake tough?” Musk asked the crowd. “You want a truck you can take a sledgehammer to, a truck that won’t scratch, doesn’t dent.”
The Tesla CEO went on to highlight the strength of the “armored glass” and asked Holzhausen to throw a metal ball at the side window. This test, however, wasn’t so successful, as the glass was left shattered. According to Forbes, Tesla share price fell about 6 percent following the Cybertruck debut; this caused Musk’s net worth to drop to $768 million, leaving him with $23.6 billion. The outlet also cited a number of Wall Street analysts who had differing opinions on the Cybertruck’s marketability.
There’s a couple ways to look at this. One way is to look at it is that it’s impressive for a person to be able to lose 768 million dollars in a day and have it not matter. That’s the situation Elon Musk finds himself in currently. The dude lost 768 million dollars after the disastrous Cybertruck launch and nothing about his day to day life will change. Think about that. His net worth dropped more than the GDP of some small countries and it doesn’t matter to him. The man still has 23.6 BILLION dollars to his name. The bottom line is Elon won’t have to start eating ramen noodles and buying one ply toilet paper any time soon.
The other way to look at it, and this just happens to be the way that I look at it, is that it’s not impressive for a CEO of a company to announce a much ballyhooed project and then for that company’s stock to drop 6% and the net worth of the CEO to drop by as much a Jerry Seinfeld’s worth. Call me crazy but that shouldn’t happen and it’s exactly what happened to Tesla and Elon Musk yesterday. The Cyberstuck unveiling was supposed to showcase this awesome futuristic pickup truck that was gonna change the world forever but instead Elon botched the presentation, had a volunteer break a couple armored windows and all hell broke loose. Well done!
Again, the guy still has more money than God and at the end of the day this won’t matter to him which is insane to say but he really does have that much money. But in terms of being a successful CEO who always knows what’s best and does what’s best for his company, Elon Musk fails over and over again. He stinks.