By Blessing Enechojo Abu
Elon Musk’s net worth has dropped to a new low after he lost $13 billion in 24 hours. This is the biggest fall in his net worth in 2023.
The SpaceX CEO suffered the biggest fall in his net worth in a day, after the SpaceX rocket explosion and disappointing Tesla earnings.
On Thursday,20th April, his EV company Tesla had disappointed investors after its first-quarter results shot the company’s shares down by 9.75%.
The electric vehicle net income had dropped by 20%.
Another reason for the drop in the billionaire’s net worth is as a result of the crash suffered by SpaceX’s experimental Starship rocket. The rocket had exploded less than five minutes after it achieved its liftoff in Texas. The rocket had exploded in a fiery ball above the Gulf of Mexico.
The last 24 hours might not have been the best in the life of the billionaire. Asides the net worth drop, Twitter had also come under serious criticism over their decision to remove their legacy blue checkmarks.
Many accounts had lost their blue ticks for choosing not to pay the required subscription to keep the verification badge.