Loss of top spot to LVMH chief executive comes after Tesla shares more than halve in value via IrishTimesBiz
Elon Musk, who recently took ownership of Twitter, is the chief executive of Tesla and its largest shareholder. Photograph: Patrick Pleul/APElon Musk has lost his crown as the world’s richest person, after further falls in the value of shares in his electric car company Tesla.
South Africa-born Mr Musk, who recently took ownership of Twitter, is the chief executive of Tesla and its largest shareholder. The electric car company has lost more than half of its market value since Musk first made a bid for Twitter in April.Shares in Tesla were trading at $340.79 on 13th April, the day before Twitter revealed in a securities filing that the billionaire had made a hostile bid worth $43.4 billion.
Tesla’s market value has come under pressure partly as a result of disappointing quarterly results, and concern about disruption at one of its factories in Shanghai.
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