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Elon Musk loses almost 17,000 million dollars in one day after revealing his plans to reduce about 10% of Tesla's workforce

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The actions of the company fell 9.2% this Friday, subtracting 16.9 billion dollars from Musk’s fortune, whose total estimated value stands at 216.8 billion dollars.

The CEO of Tesla and SpaceX , Elon Musk, lost almost 17,000 million dollars in one day after it came to light that the tycoon is considering making cuts in the workforce from your electric car company.

In this context, Tesla shares fell by 9.2% on Friday, subtracting $16.9 billion from Musk’s fortune, whose total estimated value is 216,800 million dollars, collects Forbes.

Specifically, the crash occurred after the leak of an email, titled ‘Pause all hiring worldwide’, in which the businessman stated that Tesla must “cut around 10% of its workforce” and revealed that you have a “super bad feeling”

about the economy. The news came shortly after Musk was widely criticized for banning Tesla employees from working remotely under threat of dismissal.

“The most important thing that probably investors must be thinking is that they want Musk to shut up,” said the chief strategist Miller Tabak Market Manager, Matt Maley. “It was strangely quiet last week and stocks finally saw a good rally,” he added.

“It’s great that people want to buy electric vehicles to help the environment , but most Tesla cars are expensive,” Maley continued. “If you’re worried enough about the economy to lay off 10% of your workforce, what does that tell us about your view on demand for your cars? A recession is not going to be Tesla’s favourite,” he said. .

However, the losses did not affect Musk’s standing among billionaires and entrepreneur remains the richest person in the world, surpassing Bernard Arnault, owner of several luxury brands such as Christian Dior and Louis Vuitton, by 58.9 billion dollars.

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