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Elon Musk's Wipes $13bn Off Tesla's Value With Single Tweet

Elon Musk's Wipes $13bn Off Tesla's Value With Single Tweet

Elon Musk saw $13 billion (£10.3bn) wiped from Tesla's value after he shared a series of strange tweets.

The billionaire took to Twitter yesterday (1 May), claiming that the company's share price was 'too high' and that he planned on selling 'almost all' of his possessions.

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But not long after posting the tirade the tech giant's share price plummeted by 10 percent.

It also saw $3bn (£2.4bn) taken off Musk's own stake in Tesla after investors piled in to bail the company out. He's still worth a whopping $38bn, though, so we think he'll get over it.

Earlier in the day, the 48-year-old wrote on Twitter: "Tesla stock price is too high imo.


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"Now give people back their FREEDOM.

"And the rocket's red glare, the bombs bursting in air. Gave proof through the night that our flag was still there. Oh, say does that star-spangled banner yet wave. O'er the land of the free and the home of the brave?

"Rage, rage against the dying of the light of consciousness."

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He then went on to claim that he was going to sell his house but that the news hadn't gone down well with his partner.

Musk wrote: "I am selling almost all physical possessions. Will own no house.

"My gf @Grimezsz is mad at me."

He added: "Just one stipulation on sale: I own Gene Wilder's old house. It cannot be torn down or lose any its soul."

The tech billionaire claimed he was selling his house and wiped billions off Tesla's stock. Credit: PA
The tech billionaire claimed he was selling his house and wiped billions off Tesla's stock. Credit: PA

According to The Wall Street Journal, when asked whether he was joking or whether anyone had checked his tweets before they were shared, he replied: "No."

But this isn't the first time Musk has caused controversy in recent weeks with some of his views.

Last month, he attacked the lockdown measures that have been implemented in the US, claiming politicians were 'imprisoning people' at home.

He said: "To say that they cannot leave their house and they will be arrested if they do, this is fascist.

"This is not democratic, this is not freedom. Give people back their goddamn freedom!

"So the extension of the shelter-in-place or, frankly, I would call it, forcibly imprisoning people in their homes against all their constitutional rights, in my opinion, breaking people's freedoms in ways that are horrible and wrong and not why people came to America or built this country.

"It will cause great harm, not just to Tesla, but to any companies.

"And while Tesla will weather the storm, there are many small companies that will not."

Featured Image Credit: PA

Topics: Interesting, US News, Technology

Dominic Smithers

Dominic graduated from the University of Leeds with a degree in French and History. Like you, Dom has often questioned how much use a second language has been. Well, after stints working at the Manchester Evening News, the Accrington Observer and the Macclesfield Express, along with never setting foot in France, he realised the answer is surprisingly little. But I guess, c'est la vie. Contact us at [email protected]