Elon Musk loses $24bn and makes dire economy warning – ‘Tesla dug our own grave’

Elon Musk has expressed concerns to investors regarding how the U.S. economy’s state may negatively impact Tesla’s growth.

Elon Musk headshot during a live 2023 event


Elon Musk remains the world’s richest person despite recently losing $24billion (Image: Getty)

Elon Musk has alerted investors in an earnings call that Tesla’s long-delayed Cybertruck won’t be cash flow positive for years.

The electric auto manufacturer announced the truck in 2019 and has slated it for a November 30 release.

Musk, Tesla’s CEO, suggested that investors manage their expectations for Cybertruck’s launch during the fourth quarter — especially after troubling third quarter reports.

The Tesla founder’s net worth took a $24billion hit during quarter three due to his car company’s underwhelming sales.


Tesla shares also dropped 9 percent Thursday, according to CNBC.


Tesla’s Cybertruck on display

Tesla’s Cybertruck currently carries a $39,900 starting price (Image: Tesla )


However, Musk remains the world’s richest person with an estimated net worth of $231billion, Forbes reports.

Cybertruck demand remains high amongst the public, with over one million reservations, but the model’s production scaling challenges are sparking anxiety within the company.

Musk said: “We dug our own grave with the Cybertruck.

“Cybertruck’s one of those special products that comes along only once in a long while.


“And special products that come along once in a long while are just incredibly difficult to bring to market to reach volume, to be prosperous,” The Verge reports.



Related Posts

“I couldn’t do it” – When Alexa Bliss opened up about her dating experiences

Alexa Bliss won her first WWE title in 2016 Alexa Bliss has been one of the most prominent superstars in the women’s division since making her main…

Johnny Depp ‘transforms’ after having a new love, appearing with a different appearance because of shaving and losing weight

Actor Johnny Depp surprised many people with his youthful appearance and unusual fashion after appearing at SiriusXM last Wednesday. Recently, Johnny Depp appeared with a strange appearance…

Johnny Depp transformed at age 60: Losing weight, looking dashing, living a quiet life

At the age of 60, Johnny Depp turns to a new page in his life when the old scandals have ended. The actor lost weight, cut his…

Remember when Kim Orton blasted a female WWE Star following a controversial spot? Breaking down the 3 years old incident

Randy Orton is scheduled for a triple threat at WrestleMania 40. Three years ago, Randy Orton’s wife, Kim Orton, took to social media to let Alexa Bliss…

“Randy’s wife was pissed that night,” “Kim Orton was not happy” – Fans remember shocking Randy Orton moment

Randy Orton is one of the most popular names in WWE. Fans have been talking about a Randy Orton moment from a few years back that took…

“Bray was going to try to push for it” – Details on 33-year-old former WWE star’s pitch for a match involving Bray Wyatt

Bray Wyatt passed away at only 36 [Image credits: wwe.com] A former WWE Superstar has revealed details of his pitch for a match involving the late Bray…