Tesla

It was a “nightmare quarter” for Elon Musk’s electric vehicle titan.

Musk’s net worth is down almost $60 billion in 2024 alone, according to Forbes’ estimates, as Tesla stock tanked and a judge swatted down Musk’s record compensation package.

Novo Nordisk and Eli Lilly each have a higher market capitalization than Tesla, a dramatic shift from the end of 2021, when Tesla was worth four times more than each of the weight loss kingpins.

Musk’s $56 billion compensation package was voided in January in a lawsuit brought forth by a Tesla shareholder.

Tesla has lost $210 billion of market value in 2024 while Eli Lilly gained $140 billion, as investors trade ditch their EV optimism for the GLP-1 craze.

Uninspiring earnings and a “black cloud” from Elon Musk drama have sent Tesla shares down 27% in 2024.

The billionaire justified the decision on the results of an unscientific poll run on his X account a day earlier.

A change to the design of new Tesla Model 3 vehicles means that infant or child car seat restraints cannot be securely attached, according to the Australian Department of Infrastructure and Transportation.

Tesla shares dropped around 2% in after-hours trading following the ruling.

The billionaire claimed he has been taking random drug tests since he smoked marijuana on an episode of the “Joe Rogan Experience.”