
Profile via Forbes’ Powerful People
Thought you were having a tough couple of weeks? Marketwatch reports that, by their calculations, Musk is worth about a billion less than he was a few weeks ago.
Musk owns more than 28 million shares of Tesla Motors Inc. TSLA, -3.05% the electric-car maker he leads, and nearly 21 million shares of rooftop solar installer SolarCity Corp. SCTY, +0.26% where he is chairman and the chief executive is his cousin, Lyndon Rive. …
On Nov. 26, … Musk’s combined Tesla and SolarCity holdings were valued at around $8.2 billion. They are now more like $7 billion. … Shares of Tesla have declined 16% since then, cutting gains for the year so far to 39%. SolarCity shares are down 11% since Nov. 26, accounting for most of the year’s 12% drop.
Marketwatch’s speculation about why this drop has occurred can be read here, on their story, but the bottom line for most pundits is that it’s linked to the dramatic drop in oil prices. Could investors in a company like Tesla really be that short-sighted?
We have a different opinion. Since Musk’s comments about AI and colonizing Mars have flooded the interwebs, the stock has dropped. Now, in the last few weeks, we haven’t heard a peep out of Musk about anything – since the last comment about Asimov and Dune. Has Musk been muzzled by his boards? Enquiring minds want to know.
Get Social: