Sunday, March 3, 2024
Business News

Thanks for paying $8: Elon Musk on Twitter

Tesla CEO Elon Musk, who is currently the world’s second-richest person, has faced criticism on social media after responding flippantly to a tweet from a verified user who pointed out that Musk had “lost over $200 billion” this year.

According to Bloomberg, Musk’s net worth once peaked at $340 billion, but has now dropped to $137 billion, making him the first person in history to lose such a vast sum. The tweet in question came from a user who said, “you worked hard this year and lost over $200 billion.”

In response, Musk simply tweeted, “Thanks for paying me $8.” This response was met with criticism from some users, who felt that it was tone-deaf and showed a lack of empathy for those who had lost money due to the fluctuations in Tesla’s stock price.

Musk’s wealth is largely tied to the success of Tesla, which has had a tumultuous year. The company’s stock price soared in 2020, leading to a massive increase in Musk’s net worth. However, the stock has faced significant volatility in recent months, and the company has faced challenges such as supply chain issues and a recall of its Model S vehicles.

Despite these challenges, Tesla has continued to perform well financially. The company reported record profits in the third quarter of 2021, and its stock price has rebounded somewhat in recent weeks.

Musk’s controversial personality and brash statements have often landed him in hot water on social media. In the past, he has faced criticism for making baseless claims, such as when he tweeted that he had secured funding to take Tesla private at $420 per share, a move that led to him being charged with securities fraud by the Securities and Exchange Commission (SEC).

However, Musk has also achieved significant success and has a devoted following, thanks in large part to his work with Tesla and SpaceX. He has disrupted entire industries and his companies have pushed the boundaries of what is technologically possible.

Despite the recent drop in his net worth, Musk remains one of the wealthiest and most influential people in the world. It is unclear how his latest tweet will impact his reputation or the fortunes of his companies.