Apparently, not all public appearances are profitable for Elon Musk. If posts on various social networks fabulously enrich Tesla CEO, then appearances on TV and radio broadcasts make him poorer. The business tycoon was the latest guest host of the live show on Saturday. And it was disastrous for his fortune!
Elon Musk’s net worth has plunged by more than $20 billion after his controversial appearance on Saturday Night Live. During his opening monologue, Musk confirmed for the first time that he has Asperger’s syndrome. “I don’t always have a lot of intonation or variation in how I speak, which I’m told makes for great comedy. I’m actually making history tonight as the first person with Asperger’s to host SNL,” he said. Then he called dogecoin a “hustle”. He also made fun of his own business plans. Musk's jokes triggered a drop in the value of not only dogecoin but also bitcoin. Tesla shares also nosedived, losing a total of 15%. Naturally, it affected the personal wealth of the entrepreneur, which immediately decreased by $20.5 billion to 145.5 billion.
Analysts believe that Musk's latest decisions are puzzling crypto investors and causing additional volatility in Tesla shares. They point out that Tesla shares may start declining due to news from China - a key market for electric car manufacturers. Earlier in May, Tesla confirmed it was not going to expand production in Shanghai and did not buy land there.
