Elon Musk has experienced a significant drop in net worth, falling by $75 billion to $358 billion, primarily due to the declining stock price of Tesla. His wealth is also tied to xAI, which aims to raise its valuation to $75 billion and has made a bid for OpenAI, currently valued at a higher amount. Additionally, Musk's ownership of SpaceX, valued at $350 billion, showcases his involvement in the futuristic tech industry. The decline in Tesla sales, particularly in Europe and the recent vehicle recall, has exacerbated his financial downturn.
Musk's net worth has plummeted by $75 billion due to Tesla's declining value, yet he holds significant stakes in xAI and SpaceX.
Tesla's stock has decreased by 25% in a month, with European sales down 59% in Germany and 63% in France, contributing to the decline.
Musk's offer to acquire OpenAI was rejected, despite support from several investors; xAI's valuation is set to reach $75 billion afterward.
SpaceX, valued at $350 billion, is crucial for Musk's wealth as it leads satellite launches and aims to provide worldwide internet services via Starlink.
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