• iconNews
  • videos
  • entertainment
  • Home
  • News
    • UK News
    • US News
    • Australia
    • Ireland
    • World News
    • Weird News
    • Viral News
    • Sport
    • Technology
    • Science
    • True Crime
    • Travel
  • Entertainment
    • Celebrity
    • TV & Film
    • Netflix
    • Music
    • Gaming
    • TikTok
  • LAD Originals
    • Say Maaate to a Mate
    • Daily Ladness
    • Lad Files
    • UOKM8?
    • FreeToBe
    • Extinct
    • Citizen Reef
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • Tyla
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
Snapchat
TikTok
YouTube

LAD Entertainment

YouTube

LAD Stories

Submit Your Content
Tesla Stock Has Dropped More Than Half A Trillion Dollars Since November

Home> News

Published 03:37 25 May 2022 GMT+1

Tesla Stock Has Dropped More Than Half A Trillion Dollars Since November

The massive loss comes after founder Elon Musk's Twitter purchase and a sexual harassment suit against him from a SpaceX flight attendant.

Rachel Lang

Rachel Lang

Tesla stocks have plummeted nearly half their value since their peak in November last year following a tumultuous six months for Elon Musk's electric car company.

Shares for the company plunged by 6.42 per cent on Friday (May 20) and dipped a further 2 per cent on Monday (May 23).

To make that information a bit clearer, Tesla’s losses total approximately US$558.19 billion (AUD$790 billion, £430 billion) or 45 per cent since last November, according to News Corp.

At the time, Tesla was worth more than $1 trillion ($AU 1.41 trillion, £798 billion).

Advert

Tesla's massive loss comes in contrast to CEO Elon Musk's staggering personal high in November as his personal net worth that surpassed $300 billion ($AU 422 billion, £239 billion).

"Oh no, my billions!" - Elon Musk, probably.
Kristoffer Tripplaar / Alamy Stock Photo

This made Musk the first person in the world to achieve that level of wealth.

Now, the Tesla CEO's worth has plummeted to a measly $209 billion ($AU 294 billion, £166 billion). 

The news comes only days after Musk was forced to address claims he sexually harassed a SpaceX flight attendant during a private jet trip to London.

Advert

Business Insider has revealed the flight attendant disclosed to a friend that a routine massage turned sexual on the journey.

The friend has signed a declaration, which has been seen by Insider, and alleges Musk exposed his 'erect penis' during the massage and propositioned the woman in 2016.

The flight attendant's friend added that Musk 'touched her and offered to buy her a horse if she would do more'.

He's told the news outlet that the story is a 'politically motivated hit piece' and that there is a 'lot more to this story'.

Advert

"If I were inclined to engage in sexual harassment, this is unlikely to be the first time in my entire 30-year career that it comes to light," he said.

It's more bad news for the SpaceX founder, after it was also recently revealed that his $44 billion ($AUD 62 billion, £36 billion) takeover of Twitter is officially on hold.

It all started when the Tesla and SpaceX chief became the social media firm's largest single stakeholder with a 9.2 per cent stake, sparking its own controversy with regards to withholding his public disclosure after passing five per cent.

Featured Image Credit: Seemanta Dutta / Alamy Stock Photo. Bob Daemmrich / Alamy Stock Photo.

Topics: Elon Musk, Tesla, US News, Technology

Rachel Lang
Rachel Lang

Rachel Lang is a Digital Journalist at LADbible. During her career, she has interviewed Aussie PM Malcolm Turnbull in the lead up to the 2016 federal election, ran an editorial campaign on the war in Yemen, and reported on homelessness in the lead-up to Harry and Meghan’s wedding in Windsor. She also once wrote a yarn on the cheese and wine version of Fyre Festival.

X

@rlangjournalist

Advert

Advert

Advert

Choose your content:

24 mins ago
an hour ago
11 hours ago
  • 24 mins ago

    MPs warn all citizens are at risk of 'grey zone' attacks after Russian mercenary group blow up London warehouse

    'Grey zone' attacks are actions that fall short of outright declaring war

    News
  • an hour ago

    Father left harrowing voicemail to his kids before he was 'swept away' by Texas floods with death toll rising over 100

    Jeff Ramsey called his kids moments before he was 'swept away' by floods

    News
  • 11 hours ago

    Scientists calculate 'death date' of universe before the 'big crunch' takes place

    Brace yourself for the 'Big Crunch', people

    News
  • 11 hours ago

    Expert issues stark warning over easily missed sign you could have developed life-threatening disease

    Dr Kenneth Harless explained there is an unusual warning sign which often crops up

    News
  • World's richest people named on list with a combined wealth of more than $16 trillion
  • Tesla Cybertruck driver shares mind-blowing amount six months of electric has cost him
  • How Elon Musk has lost £41,000,000,000 since the start of 2025
  • Elon Musk reacts furiously to reports Tesla is ‘looking for his replacement’ as CEO