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Evening Standard
Evening Standard
Business
Daniel O'Boyle

Elon Musk loses $11bn from his fortune as Tesla shares tumble after profits fall

Elon Musk saw more than $11 billion (£9 billion) wiped off his net worth as Tesla shares plunged by 10% following disappointing financial results yesterday.

Following market close on Wednesday, Tesla reported its first ever annual profit decline. Earnings per share fell by 23% for the year as revenue came in below expectations.

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