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

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

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).

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

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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.

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'.

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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'.

"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.

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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
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