About the author Sports-lover turned journalist, born and bred in Scotland, with a passion for football (soccer). He’s also a keen follower of NFL, NBA, golf and tennis, among others, and always has an eye on the latest in science, tech and current affairs. As Managing Editor at AS USA, uses background in operations and marketing to drive improvements for reader satisfaction. Update: 0 Elon Musk just lost $12.6 billion in a matter of days, mostly thanks to falling Tesla shares. That’s a lot, even for the world’s second-richest man. Tesla’s first-quarter results showed profits down 24% from last year. That sent the stock tumbling 10%, slashing $58 billion off Tesla’s market value. Since Musk’s wealth is tied heavily to Tesla shares, his personal fortune took a direct hit. SpaceX explosion cost Meanwhile, SpaceX’s Starship rocket exploded midair four minutes into its first launch. Musk called it a valuable learning experience, but developing Starship is expected to cost between $2 billion and $10 billion – and many believe that’s an underestimate. Then there’s Twitter, which Musk bought for $44 billion, renamed X to go along with his other toys, and now values at just $20 billion. Since his takeover, the company’s revenue has reportedly dropped 40% as advertisers flee. His decision to charge companies $1,000 a month for account verification has pushed even big players like Microsoft to pull out. To make things worse, Twitter’s source code was recently leaked, opening the door to security risks and knockoff platforms. So, is Musk going bankrupt? I mean, we’re talking about ridiculous amounts of value lost. Well, no. But his empire is taking hits on all sides. Tesla profits are shrinking, SpaceX faces costly delays, and X is bleeding cash and, some would argue due to the massive increase in misinformation, relevance. For now, he still has $163.9 billion, according to Bloomberg. But the direction of travel isn’t great. Related stories Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all. Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere. Tagged in: