Tesla shares took a sharp dive today, plunging almost 15% and wiping out approximately $153 billion from the company’s market valuation. The dramatic drop pushed Tesla’s market capitalization below the $1 trillion threshold, settling around $917 billion—its lowest level in over a year.
The selloff also dealt a heavy blow to CEO Elon Musk’s personal wealth. His net worth declined by an estimated $27 billion in a single day, bringing his real-time net worth to approximately $387 billion. Despite the drop, Musk continues to hold the top spot in global wealth rankings.
The reason behind the sudden downturn remains under close watch by investors and analysts, with speculation ranging from slowing demand in key markets to broader concerns about tech sector valuations.
