Elon Musk lost $1.5 billion in the last two days
Tesla Motors’ Elon Musk has been like that 90s sitcom “Parker Lewis” over the last couple years—the guy just couldn’t lose. After launching an electric car company against all odds in the face of a furious auto industry, Tesla Motors’ runaway success in the first part of 2013 shot Musk’s personal wealth up—way up. He went from living on friends’ couches, barely able to pay his divorce settlement a couple years ago to going up $5 billion dollars this year alone.
Which I guess has to make losing $1.5 billion in two days seem not quite so bad.
Still, Tesla’s reversal of fortune in the last eight weeks has been pretty incredible. Three car fires and less-than-stellar sales in the third quarter have beaten up on the company’s reputation and its stock price. Hard.
The company’s value has tumbled as its stock price fell 30% from its September high of over $190 to today’s price of $134. The third car fire this week sent the stock even lower, and with it Bloomberg reports that Musk lost $1.5 billion since Wednesday. And he’s lost way more than that since September.
Of course, to Tesla believers this is just a blip. In 20 years Tesla could be the next BMW or Mercedes, and if it works out like that the last two months of chaos for the company won’t even register.
At the very least, Musk has built himself some pretty sweet toys to play with along the way. So, you know, don’t feel too bad for the guy.