Elon Musk loses billions in net worth after Starship explosion, Tesla's underperformance

Elon Musk's wealth recorded a significant drop in a tumultuous 24-hour period that saw Tesla's below-expectation quarterly results, the explosion of SpaceX Starship rocket, and Twitter taking away all legacy blue checkmarks.

All of these events have taken place in a24-hour period between April 19 and April 20.

ALSO READ |In Pictures | When Elon Musk's Starship dream exploded into successful failure

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They have had the most immediate consequence on Musk's wealth. The billionaire business magnate's net worth has dropped by $12.6 billion in last 24-hours, his biggest decline this year according to Bloomberg Billionaires Index.

ALSO WATCH |Tesla records 24 per centdrop in net income

For Elon Musk, his stake in Tesla, including shares and options, makes up the biggest part of his $163.9 billion fortune. He is the Chief Executive Officer of both Tesla and SpaceX, as well as Twitter, the social media platform he acquired last year. Musk continues to be the world’s second-richest person behind French luxury tycoon Bernard Arnault.

How Elon Musk is reacting to recent setbacks?

Referring to Tesla's underperformance, Musk said that "it’s difficult to say what the margin will be."

As for SpaceX Starship debacle, Musk congratulated employees and said he’s optimistic about the program’s progress. Many called it Musk's way of turning setbacks into 'successful failures.'

On Twitter, he kept the promise of removing legacy blue checkmarks, sending shockwaves beneathpillars of world's virtual 'town square'.

It’s "shaping up to be quite the day!" he tweeted, while referring to April 20 or 4/20, the unofficial pot holiday.

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