Tesla Has Worst Ever Start To A Year with Musk Losing $4.9 Billion
To say Tesla (NASDAQ: TSLA) was having a rocky start in 2019 would be an understatement. To date, the stock has tumbled 43% this year slashing $4.9 billion from the value of Elon Musk’s stake the company. Wall Street is seemingly doubtful about consumer demand for the company’s electric vehicles. This drop in value represents a total loss of $7.8 billion from the stakes of Tesla’s four biggest shareholders – Musk, Tencent Holdings Ltd., Saudi Arabia’s Public Investment Fund and Larry Ellison, with $2.7billion dropping off in May alone. Not contributing to the stock is Tesla’s delay in Model 3 deliveries as well as recurring news of autopilot crashed.