After an IPO last week with SpaceX's market valuation at $2.78 trillion, stock in South African fascist and mass killer Elon "Leon" Musk fell 16%, causing the white supremacist space cadet $240 billion. His accident-plagued car Tesla is also shedding value. From Fortune.com:
"Space Exploration Technologies Corp (SpaceX) is already among the world’s most valuable companies, briefly surpassing Amazon in the days following its market float when it soared to a valuation of $2.78 trillion.
Musk owns approximately 5 billion shares in the company, meaning that a vast portion of his net worth is tied to the exploratory business. Despite SpaceX gaining some 20% in its first day of trading, a reality check soon sent its stock price downwards. The stock lost 16.43% yesterday, a selloff of approximately $400 billion. It’s market cap currently sits at $2.03 trillion.
A further dampener on Musk’s fortune is the value of shares for EV maker Tesla. Over the past month, Tesla shares have been down 6.6%, and by more than 7% for the year to date.In turn, Musk’s net worth has dropped from a peak of $1.32 trillion to $1.08 trillion at the time of writing, per the Bloomberg Billionaires Index. The drop—between June 16 and a week later—is some $240 billion." (our emphasis)
From today's opening, it appears that the drop will continue. The ketamine-fueled megalomaniac has delusions of space travel, as in Star Trek, not grasping that until humanity discovers how to travel at near light speed, deep space voyage is science fiction. But that won't stop master bullshit artists like Musk (or his nearest competitor and fellow Trump ass-kisser Jeff Bezos) from hyping and fleecing investors despite regular failures of their creations. May the downturn continue.
(photo: Send this space cadet on a one-way trip to Mars)
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