A Tweet From Elon Musk Cost Tesla 15 Trillion Elon Musk, who became the first person to earn more than 400 billion dollars, often posts many things on his social network X (Twitter). Some of them become the topic of post-discussion, some have a big impact, and some have not much impact.
A tweet by Musk in 2020 caused unexpected damage to his company, Tesla. The incident of losing 13 billion dollars (more than 14 trillion 82 billion rupees at that time) market value is still famous today. On May 1, 2020, he tweeted, “Tesla stock price too high imo,” meaning “In my opinion, Tesla’s stock price is too high.”
Tesla’s CEO’s statement was taken by investors as an unstable signal about the company’s future. Many investors panicked and started selling their shares. A large amount of shares were sold, and the market price fell sharply.
In 2018, Musk tweeted that he had raised the necessary investment to privatize Tesla. But the US regulatory body considered the tweet to be an expression of influence on the market and paid a fine of $200 million.
Musk’s tweets are often controversial. However, even though his statement had an impact on the company at the time, Tesla has overcome those events and set a path to today’s success.
