Elon Musk wipes $40bn off Tesla value with single tweet
Oh no, hope he's ok...
It might not sound like much at first (need we remind you he recently became so rich that he has more money than the entirety of Finland?) but that two per cent counted for approximately $42 billion. Oh, Elon - what you like, eh?
The tweet in question came after the world's richest man was touted to have signed a deal with car rental company, Hertz, with CEO Mark Fields promising to buy 100,000 Teslas as "electric vehicles are now mainstream" and he wants to amass "the largest EV rental fleet in North America".
However, old Musky boy decided to let out a trade secret - clarifying the contract hadn't been signed yet.
If any of this is based on Hertz, I’d like to emphasize that no contract has been signed yet.
Tesla has far more demand than production, therefore we will only sell cars to Hertz for the same margin as to consumers.
Hertz deal has zero effect on our economics.
— Elon Musk (@elonmusk) November 2, 2021
Subsequently, the Tesla value is thought to have sunk from anywhere between two and four per cent following the tweet, though Fields has since confirmed the order has been placed and, regardless of the wobble, it would now seem Tesla's market value is back on the up.
In fact, it is reported to have made the biggest 12-day increase in financial history. We're sure he was worried there for a minute or two.
This isn't even the first time this has happened either. Just this June, Musk's appearance on Saturday Night Live saw the value of both Tesla and Bitcoin fluctuate following a mere mention of both combined with his appearance on the show - not that it seems to have mattered much.
Meanwhile, his teasing of the UN's World Food Programme has led the chief exec to call his bluff, saying he can be on the "next flight" to him to discuss how Musk can donate the $6bn that could end world hunger. Let's just hope that is a conversation he can find time for in between counting his money.
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