ELON Musk was spotted looking down in the dumps on Thursday morning after shockingly losing $18 billion of his net worth.
The Tesla CEO was photographed in Los Angeles, California, on January 25 after spending a night at a luxury hotel.
A somber Musk wore a plain black long-sleeve shirt and pants as he walked the streets of the City of Angels.
He stuck his tongue to the inside of his cheek, looking seemingly upset.
The melancholy appearance may have something to do with the Tesla CEO losing some of his assets.
Musk took a $18.8 billion hit to his net worth on Thursday, according to Forbes.
The loss comes after Tesla's stock sank 13.2% to 180.38.
However, Musk continues to remain the world's richest person with an estimated net worth of $203.6 billion.
The news comes just one day after Tesla announced its vehicle production growth rate is projected to drop in 2024.
Tesla's announcement follows the company's stocks plummeting after the EV giant's reported Q4 earnings missed estimates.
A press release shared on Wednesday stated that the company's "vehicle volume growth rate may be notably lower than the growth rate achieved in 2023."
This indicates that the company would not reach estimates of 2.19 million for 2024, per Yahoo Business.
The company also announced that revenue for Q4 was $25.17 billion, compared to an estimated $25.87 billion.
While Tesla's vehicle production growth rate is projected to decrease in 2024, Musk noted that the company is set to start production on a next-gen vehicle in the second half of 2025.
"We are focused on bringing the next-generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas.
"This platform will revolutionize how vehicles are manufactured," Tesla said on an earnings call, per Yahoo Business.
"We're very far along on our next-gen low-cost vehicle; we're really excited about this.
"This is a revolutionary manufacturing system, far more advanced than any other in the world," Musk said on the call.
Continue reading:
https://www.the-sun.com/news/10195547/elon-musk-downcast-net-worth-plummetted-18b/
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,The Sun,news,breaking news,CnNYF05WCsI,UCIzXayRP7-P0ANpq-nD-h5g, Health,Society, channel_UCIzXayRP7-P0ANpq-nD-h5g, video_CnNYF05WCsI,Australian teenager Bianca Jones died following a suspected methanol poisoning incident in Laos.
A hostel owner has been detained after the 19-year-old and a group of people drank tainted shots, causing serious illness and multiple deaths.
https://www.thesun.co.uk/news/31871668/bianca-jones-aussie-backpacker-poisoned-laos-methanol-laced-alcohol/
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,1,A Ukrainian army helicopter strikes Russian positions with unguided S-8 rockets.
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,1,NEW witnesses are set to be quizzed over the disappearance of Jay Slater after the alleged theft of a Rolex hours before the teen vanished.
Two mystery Brits who partied with Jay Slater on the night of his disappearance are "not relevant", investigators have also said today.
The latest twist comes just days after a private investigator called the men "key witnesses" in the case.
A "massive" new search kicked off today with the help of specialist volunteers amid a "make or break" final push to find the 19-year-old Brit.
It comes amid a key 48 hours in the search for Jay - which has now been labelled as "make or break".
The source added: "There’s a feeling that this weekend is going to be absolutely key. A huge amount of resources and effort is being piled into the next 48 hours.
“It’s not all or nothing, but investigators dearly hope this weekend will provide the breakthrough they are hoping for.”
Read more: https://www.thesun.co.uk/news/28836873/jay-slater-cops-investigate-theft-rolex-new-search/
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,1,Our Royal experts and journalists delve deep into Palace news.
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,1,ELON Musk was spotted looking down in the dumps on Thursday morning after shockingly losing $18 billion of his net worth.
The Tesla CEO was photographed in Los Angeles, California, on January 25 after spending a night at a luxury hotel.
A somber Musk wore a plain black long-sleeve shirt and pants as he walked the streets of the City of Angels.
He stuck his tongue to the inside of his cheek, looking seemingly upset.
The melancholy appearance may have something to do with the Tesla CEO losing some of his assets.
Musk took a $18.8 billion hit to his net worth on Thursday, according to Forbes.
The loss comes after Tesla's stock sank 13.2% to 180.38.
However, Musk continues to remain the world's richest person with an estimated net worth of $203.6 billion.
The news comes just one day after Tesla announced its vehicle production growth rate is projected to drop in 2024.
Tesla's announcement follows the company's stocks plummeting after the EV giant's reported Q4 earnings missed estimates.
A press release shared on Wednesday stated that the company's "vehicle volume growth rate may be notably lower than the growth rate achieved in 2023."
This indicates that the company would not reach estimates of 2.19 million for 2024, per Yahoo Business.
The company also announced that revenue for Q4 was $25.17 billion, compared to an estimated $25.87 billion.
While Tesla's vehicle production growth rate is projected to decrease in 2024, Musk noted that the company is set to start production on a next-gen vehicle in the second half of 2025.
"We are focused on bringing the next-generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas.
"This platform will revolutionize how vehicles are manufactured," Tesla said on an earnings call, per Yahoo Business.
"We're very far along on our next-gen low-cost vehicle; we're really excited about this.
"This is a revolutionary manufacturing system, far more advanced than any other in the world," Musk said on the call.
Continue reading:
https://www.the-sun.com/news/10195547/elon-musk-downcast-net-worth-plummetted-18b/
The Sun delivers breaking news, latest gossip and incredible exclusives around the world with hubs in London, New York, Scotland and Ireland.
Covering topics from news, money and sport along with our famous Fabulous Magazine, The Sun is the biggest news brand in the UK and one of the fastest growing news sites in the US.
Stay tuned for video clips across the biggest news stories and segments from The Sun’s expert journalists.
Become a Sun Subscriber and hit the bell to be the first to know.
Read The Sun: https://www.thesun.co.uk/?utm_source=youtube&utm_medium=social&utm_campaign=sunyoutubesitelink
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