Shares of Tesla dived 6 percent shaving off a whopping $768 million from his $24 billion fortune. #Cybertruck #ElonMusk
Tesla co-founder and CEO Elon Musk stands in front of the newly unveiled all-electric battery-powered Tesla's Cybertruck at Tesla Design Center in Hawthorne, California on 21 November 2019. (Photo by FREDERIC J. BROWN / AFP)
The breaking of the supposedly unbreakable armored glass of carmaker Tesla’s first electric pickup truck during its recent launch in California proved to be very costly for the company’s founder and CEO Elon Musk.
On Friday, a day after the launch, shares of Tesla dived 6 percent shaving off a whopping $768 million from his $24 billion fortune, according to a report from Forbes.
Stock analysts, however, are divided over the commercial viability of the futuristic-designed Cybertruck.
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In the Forbes report, Baird analyst Ben Kallo described the launch fiasco as just a “funny footnote.”
The demo proved that the Cybertruck’s steel body is durable when an assistant hit its side with a sledgehammer twice without denting the door. However, when a steel ball thrown on the window shattered the glass and it happened again on the other window in the repeat throw, Musk said, “Oh my f***ing God.”
