Cybertruck Fiasco Leaves Personal Wealth Of Elon Musk Cheaper By $768m In A Day

The debacle at the launching of Tesla’s latest electric vehicle has not only hit the company’s prospects at the share market but has also brought down the personal wealth of Tesla chief Elon Musk by millions of dollars in just a single day.

The incident where in the so called unbreakable window glass of the new electric SUV from Tesla was accidentaly smashed by the company’s chief designer while trying to show how durable they were saw that shares of the company tumble by as much as 6 per cent in a single day and wiped off $768 million in a single day form the personal net wealth of Musk.

“It is literally bulletproof to a 9mm handgun,” Musk said of the cybertruck just a few seconds before that very window glass was shattered by the company’s design chief Franz von Holzhausen while he tried to demonstrate the unbreakability  – not once, but twice, as he tried ot show that nothing would happen to them even if a person threw a ball at them.

“It didn’t go through, that’s the plus side,” Musk said after the window was broken making a hole on the glass pane.

The vehicle had been earlier described by Trump as one that has a “really futuristic-like cyberpunk, Blade Runner pickup truck”.  But analysts and investors apparently have not been enthused by the design and some even laughed away at the very large and cartoon like and video game-like features of the new vehicle.

This is however also not the first occasion that theatrics by Musk has caused the share prices of the company tumble downward. For example, there was a 6 per cent instant drop in the shares of the company after Musk decided to participate on a live web show while smoking marijuana about a year ago.

Having faced criticism form the media, Musk had back then reverted back at the media. For example, he had called the Guardian “the most insufferable newspaper on planet Earth” when he was asked about the wisdom of smoking marijuana even while he was being scrutinized and investigated by the SEC for tweeting that he had “secured” funding to take Tesla private.

Referring to the latest debacle on the occasion of the unveiling of the latest electric vehicle, Musk had claimed that the stunt with the window glass had been tested by his team prior of the actual event and that the window had not been affected.

But since the net personal wealth of Musk is still more than $20 billion, many analysts said that he can still afford some similar goof ups.

(Adapted from TheGuardian.com)

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