The past 24 hours have not been good financially for billionaire Elon Musk and his companies as Tesla reported disappointing results and SpaceX suffered a rocket explosion. Additionally, “legacy” verified Twitter users began losing their verified blue ticks on Thursday. On Friday, about $12.6 billion was wiped from Musk’s net worth.
Shares of the electric car company fell 9.75% to $162.99 after the release of first-quarter results Thursday, Bloomberg reported. An experimental Starship rocket developed by SpaceX has exploded in the Gulf of Mexico, adding to the woes of its billionaire founder.
That same day, several Twitter users lost their verified account status as the company began mass removal of its blue check marks from non-followers. As a result, Elon Musk’s net worth has dropped by $12.6 billion, which is the biggest drop this year. His fortune fell to $164 billion from $180 billion on Friday.
Elon Musk’s response to the failure of his Space X project
Elon Musk has promised to carry out the second launch of SpaceX’s space shuttle in “a few months”, after it exploded in a fireball during its first orbit trip yesterday.
The billionaire took to Twitter about 20 minutes after the failure to congratulate his team on the “exciting pilot launch” and that he had “learned a lot” from it.
It happened shortly after a video of the explosion was released, taken by the National Oceanic and Atmospheric Administration (NOAA) space satellite.