The meteoric fall in SpaceX and Tesla shares has led to American businessman Elon Musk becoming a billionaire again after a few weeks as a trillionaire - the first in human history, by the way.
Points of attention
- The stocks of many technology companies are currently in a “storm”.
- Investors are worried about artificial intelligence bubbles and rising interest rates.
Elon Musk is back in the company of billionaires
According to Business Insider, the businessman's fortune has declined sharply and dropped below the one trillion dollar mark.
Analysts have estimated that as of today, Musk has assets worth about $957 billion.
What is important to understand is that the rich man became a trillionaire in early June, when SpaceX's initial public offering valued the space company at over $2 trillion.
For several days in a row, the quotes moved upwards, which provoked a frenzy of interest among retail investors in Elon Musk's new ideas and promises.
Despite this, SpaceX shares have recently started to fall. On June 23, they were worth about $156 per share.
It is worth noting that this is almost a third below the daily high of $225, recorded on June 16.
One of the reasons for the drop in share prices is considered to be warnings from analysts and experts.
The latter do not have much faith in the possibility of implementing Musk's ambitious plans — from creating data centers in space to colonizing Mars. All of this is questionable.
More on the topic
- Category
- Economics
- Publication date
- Додати до обраного
