Elon Musk's net worth suffered yet another multibillion-dollar hit on October 30. And the Halloween-eve hair-raiser adds a cackling skeleton to a horror arcade of ghoulish news for EVs.
By 2:15 PM, Tesla shares had fallen from the previous close of $207 to $197 or 5%, lowering the value of Musk's 715 million shares and vested options by $7 billion in just less than five hours of trading. That drop deepens the sharp decline that started when Musk unveiled disappointing Q3 earnings, and a poor outlook, after the market close on October 17. Since that date, Tesla's shares have fallen by 23%, erasing $189 billion in market capitalization, and hammering the wealth for the world's richest person by $41 billion.
