Tesla sees 'Worst Day' since Musk said ‘can’t pass a TV without spotting a Tesla up in flames'
Tesla shares fell 14% following a disappointing quarterly earnings report, resulting in an $18.6 billion loss in Elon Musk's net worth. The company continues to prioritize heavy investment in AI and robotics despite investor concerns over profit margins.
Why it matters
Reflects market skepticism regarding Tesla's transition from a car manufacturer to an AI and robotics-focused enterprise.
Elon Musk’s net worth dropped by $18.6 billion on July 23 after Tesla shares dropped by 14%, marking its largest single-day decline since June 5, 2025. According to Forbes Billionaires List, the drop in Tesla stock lowered Elon Musk’s net worth to $731.7 billion. Despite the fall, he remains the world’s richest person ahead of Google co-founder Larry Page ($263.8 billion) and Amazon’s Jeff Bezos ($245.4 billion). The drop comes days after Musk said “I can’t pass a TV without spotting a Tesla up in flames.” He was then talking about the widespread protests at Tesla showrooms and vandalism of the vehicles.Why Elon Musk lost $18.6 billion in a single day Tesla shares plunged after the company reported quarterly results that missed profit expectations despite beating revenue estimates. The car maker posted revenue of $28.2 billion, above analysts' estimate of $27.2 billion, according to FactSet.
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