Tesla’s Worst Day In A Year Cuts Elon Musk’s Net Worth By $18 Billion - Forbes

What the report says

Forbes reported that Elon Musk’s paper wealth fell by $18.6 billion Thursday as Tesla shares dropped sharply after the company’s latest quarterly earnings disappointed investors. The stock was down 14.1% by Thursday afternoon, which Forbes said put it on pace for its worst one-day fall since June 5, 2025. Musk remained ranked by Forbes as the world’s richest person, with an estimated net worth of $731.7 billion, far ahead of Larry Page and Jeff Bezos.

According to the report, Tesla posted quarterly revenue of $28.2 billion, above the $27.2 billion expected by analysts tracked by FactSet. However, earnings of 33 cents per share came in well below the 55-cent projection. Chief financial officer Vaibhav Taneja also reaffirmed that Tesla plans to spend $25 billion this year and increase investment in future years, tied to the company’s artificial intelligence ambitions.

Forbes said analysts focused on whether Tesla can turn its spending into visible progress. Morgan Stanley described the investment as necessary but said Tesla needed to show concrete milestones for its robotaxi and Optimus robotics programs. Canaccord Genuity similarly said it wanted to see meaningful robotaxi deployments over the next six months as Tesla expands its AI strategy.

The article also noted investor interest in possible overlap between Tesla and SpaceX. Musk declined to discuss any potential combination of the companies on Tesla’s earnings call, saying such matters require the appropriate process, while acknowledging growing links between the firms, including Starlink integration in Cybertrucks and a proposed AI chip manufacturing venture.