Starship rocket for SpaceX exploded a few moments after its launch during a test flight. It has been described as an example of a successful failure of a business formula that has brought scarce benefits to Elon Musk’s company.
Musk reacted to the explosion in a tweet and said that the incident is a learning experience for SpaceX. He said that the company will be able to make another trial in the upcoming months and they want to show that Starship’s Super Heavy booster push forward the huge spacecraft into orbit.
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Elon Musk Loses Billions After The SpaceX Rocket Explosion
While the SpaceX rocket explosion has been on top of the headlines, it has brought some huge losses for Elon Musk. Musk’s personal earnings have been affected a bit as the loss was reported to be around $13 billion.
Bloomberg’s Billionaires Index reported that around $12.6 billion were depleted from Elon Musk’s overall net worth. A majority of Musk’s wealth has been a result of his shares in Tesla and the share price removed $58 billion from the company’s market cap.
The company reported a net worth of around $2.51 billion at the beginning of 2023. Investors have also been forced to take a few measures for their own safety including price reductions to increase demand for the vehicles. Tesla has already increased U.S. prices after six price cuts that have happened so far since January 2023.
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What Is Elon Musk’s Net Worth?
Elon Musk has been a successful businessman over the years and this has contributed to his earnings ever since he started his career. His net worth is reported to be around $164 billion. He has been the CEO of Tesla Motors and is the CEO and CTO of SpaceX.
His wealth has helped him to be the owner of several houses. He used to live alone in a mansion worth $100 million in California. He remains to be the owner of another villa which he purchased in 2017 for $23 million.
Musk purchased three other houses between 2012 and 2016 and their prices were reported to be between $17 and $24 million. He decided to sell his possessions in 2020 and sold all of his houses to a buyer.
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