Tesla stock has seen some pressure this 2024, with the electric vehicle maker seeing a 4.54% drop on Wednesday. With this, TSLA has become the worst-performing stock in the S&P 500 index this 2024 so far. It has also resulted in CEO Elon Musk, whose net worth is closely tied to Tesla stock, becoming the world’s third-richest person by net worth.
As noted in a Barron’s report, Tesla stock has been down about 31% year-to-date. In comparison, the S&P 500 is up 8% year-to-date. Tesla’s 4.5% slide on Wednesday resulted in Elon Musk’s net worth being cut by $4.5 billion to $191.8 billion, as per Forbes‘ estimates. This means that Musk’s net worth has fallen below Amazon founder Jeff Bezos, whose net worth is estimated by Forbes to be $194.8 billion.
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