Elon Musk "became impoverished" by 18.4 billion in one day

American businessman Elon Musk lost 18.4 billion dollars in one day. This was confirmed by Forbes Real-Time rating data. The founder of SpaceX's financial loss was caused by the collapse of Tesla shares. After the report for the second quarter of 2023 was published, shares of the electric car company fell by almost ten percent, disappointing investors. The company's profit fell to its lowest level since 2021, and margins fell to a multiyear low of 18.1 percent. Musk himself tried to explain the failures of Tesla, in which he owns 13 percent, by quoting Warren Buffett. He said that the stock market is a "drunken lunatic" whose mood is unpredictable. Due to the decline of the billionaire's wealth, he almost lost the first place in the ranking of the richest people on the planet to Bernard Arnault, the owner of the LVMH holding. The French businessman became richer by 952 million dollars in the last 24 hours.