With the stock reversing all of its gains from the previous 17 months, Tesla has lost roughly half of its market value and has struggled for the majority of this year as a result of the broader risk-off market trend.
Meta Layoffs: In one of the worst lay-offs ever in the tech industry, Meta Founder and CEO Mark Zuckerberg sacked more than 11,000 employees about 13 per cent of the global workforce - and extended hiring freeze through Q1 2023.
Musk now has a net worth of $194.8 billion, according to Forbes, with a big share of that coming from his nearly 15% stake in Tesla, which has a market value of $622 billion.