World’s richest billionaire, Elon Musk loses $18 billion in a day on Cybertruck delay. Tesla shares fell on Thursday, and the world’s richest man, Elon Musk, lost $17.7 billion in just one day. In addition to headlines about Cybertruck production delays, growing concerns about interest rate hikes, and rising 10-year treasury yields, thereby kept short sellers intensifying their positions. After losses, Musk is worth $264 billion, according to Bloomberg Billionaires Index’s latest update. In the wake of growing speculation about a delay in its highly anticipated Cybertruck model, shares of the American electric vehicle manufacturer fell by 6.75% on Thursday Investors reacted to Tesla’s decision to remove references to the Cybertruck’s 2022 production date from its website in December, Tesla’s stock shed $74.66 to close at $1,031.56, falling as early as last week before gaining broader attention Thursday. In contrast, Tesla stock may be more at risk if Cybertruck continues to be delayed. Cybertruck may well interfere with Tesla’s other, more immediate production goals, given the fact that Tesla is already having trouble keeping up with “fantastic” demand for its Model 3 and Model Y electric cars.

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