Why did Elon Musk lose $30 billion this week?


Tesla stock dips 15%

Tesla's stock has dropped 15% since last Friday, making it a disastrous week for the world's wealthiest man.


Electric vehicle stock declined

Elon Musk, the CEO of Tesla and SpaceX, lost $15.7 billion in value on Wednesday as his electric vehicle company's stock plunged 8%.


Musk lost $31.4 billion

The world's wealthiest person (worth an estimated $224.5 billion) has lost $31.4 billion


limiting new Tesla orders in the near future.

He did, however, allude to the idea of limiting new Tesla orders in the near future.


stop taking orders

“We’re actually probably going to limit that — just stop taking orders for anything beyond a certain period of time,” Musk said.


tesla's Market Cap drops

Tesla's market capitalization has dropped 15% this week, significantly more than the tech-heavy Nasdaq's 6% dip.


Shanghai plant concerns 

"Shanghai plant concerns owing to China's zero Covid policy have been a huge overhang on the company," says Wedbush analyst Dan Ives.


Musk's twitter takeover

That must have been depressing news for Tesla investors, who were already worried about Musk's $44 billion Twitter takeover.


Musk still the richest person

For the time being, Musk is by far the richest person on the planet, with $78.3 billion more than runner-up Bernard Arnault of the French luxury conglomerate LVMH.