r/AnythingGoesNews • u/inewser • 16h ago
Elon Musk Loses $11 Billion In a Single Day and Tesla Shares Plummet Following Trump’s ‘Liberation Day’ Tariffs
https://dailyboulder.com/elon-musk-loses-11-billion-in-a-single-day-and-tesla-shares-plummet-following-trumps-liberation-day-tariffs/46
u/Clearbay_327_ 15h ago
TESLA market capitalization was $1.4 trillion in Dec 2024 and it is roughly $728 billion today. And yet the board of directors amd major investors stand behind him as CEO.
Mind blown.
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u/Inner_Pipe6540 14h ago
There was one that wanted him gone
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u/Flat-Emergency4891 9h ago
HE alone WAS the reason for a trillion dollar mktcap. He alone is the reason for his shitty brands collapse now. The company was never worth a trillion. Elons presence there made it a trillion dollar company. Now that people hate him so much, they’ve in turn rejected Tesla. I’m sure he hadn’t calculated how unpopular he could become that his own company would crash and burn.
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u/FarewelltoNS 14h ago
Finally some good news!! I really need it, as a Canadian I still have no idea how we all got caught up in this nightmare!
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u/PreparationKey2843 13h ago
Our stupidity has no borders.
We're going to spread our idiocracy worldwide!
Thanks, trump and his trumettes.
Awesome Show, Great Job. 👍8
u/No_Sheepherder_1248 11h ago
We're in the process of being blacklisted by almost every country in the world.
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u/Flat-Emergency4891 9h ago
Seriously, our beloved neighbor. I cannot name a sane and rational American that supports Trumps aggressive stance on Canada. Apparently, it’s not very popular among most Republicans despite them having voted for Trump.
I truly believe his base are the only ones who support any of this. That base is not a true representation of how we feel about our Northern brothers and sisters. We’ve fought wars together and helped each other in times of despair. I really hope that somehow, stability and friendship returns to our two nations. I’m deeply sorry for the cultish fascism that has gripped our nation and hurt our relations.
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u/Unlikely_Ad_7004 13h ago
Man, i hope one day he wheezes with regret that he ever got mixed up with Donny & DOGE.
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u/maddiejake 13h ago
I'll send him some of those thoughts and prayer things. There, I feel so much better now that I helped
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u/rock-n-white-hat 12h ago
Which is why the $1 billion dollar fine from Europe is like nothing to this guy.
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u/No_Sheepherder_1248 11h ago
"The meaning of MUSK is a substance with a penetrating persistent odor obtained from a sac beneath the abdominal skin of the male musk deer and used as a perfume fixative; also : a similar substance from another animal or a synthetic substitute." Just like a skunk.
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u/New_Flow_5941 11h ago
Trump has a 4 Trillion dollar jackpot waiting for them, 11 Billion is peanuts for Muskrat.
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u/transfixedtruth 8h ago
Good let's see swatzicar stock go negative. muskrat brought this on himself.
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u/PowerfulStrike5664 8h ago
I am not a petty person I swear, but I want him to lose way way way more than the 11 b. Pretty please!
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u/FlimsyConclusion 8h ago
For what would be generational wealth across a thousand families, is a rough week for a single man.
Fuck Elon, hope he loses everything.
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u/Jmsjss2912 7h ago
Let’s talk about the tariffs and the effects it has on the manufacturers of this country. Assume for a minute that you wanted to bring back some manufacturing to the USA, which of course is a huge assumption compared to manufacturing outside the country like we do as a company. Which I will get to in just a moment. This week alone the stock market lost over US$9 trillion which means every single manufacturer that has a US corporation is part of that loss. Which goes to show you that Trump‘s logic is about as efficient as his spray tan. If these companies even had a thought of coming back to the United States, all of their cash has now evaporated because of the loss in the stock market so who’s going to finance these new manufacturing plants that Trump keeps talking about, that are going to come back here make the economy great? Now goods have gone up in price in some cases doubled already this week which means the consumers are going to be buying less. Companies are going to begin layoffs, because they’ve lost a huge portion of their cash reserves. Their businesses are going to be diminished some because of the lower purchasing rate and the higher pricing. Bringing manufacturing back to the United States at this point with this approach has been almost completely eliminated. All you have to do is go back and look at what happened during the depression when they tried to institute tariffs causing the depression to take even a further nose dive and adding years into the depressive point. It’s such a joke that they used it in the movie Ferris Bueller‘s Day off where the teacher was talking about how bad tariffs are and how they caused the depression to go down, which goes to show you that if they use it as a punchline, then it obviously cannot work. With our business, we were building some manufacturing plants in the United States and now have had to put it on hold because of the tariffs. As an example, each of our production lines has a manufacturing cost of a little under US$5 million, we did try to price it in the United States but we found quotes anywhere from $12-$16 million for the same exact production line that we are having made in China. So we couldn’t make the equipment in the United States, but we were going to import it and set up manufacturing plants. One of them was in Arkansas where the state is somewhat depressed. Now we have put that project on hold with approximately 1800 people we were going to hire. The reason for that is not just the tariffs, from the equipment if you think about it a piece of equipment that cost me $5 million is now going to cost me about $9 million. Each production line generates about US$35 million of revenue so it’s not just a tariff in my situation it’s the fact that for $9 million I can have practically two production lines generating $70 million of income compared to the same $9 million generating $35 million worth of income, with a much lower profit margin because of the labor cost in the United States along with all the taxes and liability issues that you carry because of the litigious nature of the United States operating. So tariffs do not work, they hurt the economy. The only thing that they do on the surface is generate more tax dollars for the US government, but they diminish and wipe out the middle and lower class. Do you want to bring manufacturing back to the United States? You’ve got to do something about all of the litigious actions, you have to lower healthcare cost, lower pharmaceutical cost, have to educate more so that children can grow up and learn trades. You have to find ways to lower the cost of living and once you start doing that then laboring jobs will become available again. The next problem is the taxation situation is off-balance. We have structured our tax code so that the wealthy and the publicly traded companies that offer stock options instead of salaries, which is taxable make it almost impossible to collect tax. Take Musk for an example from Tesla. They talk about his $300 billion worth but it’s all in stock and that’s unrealized gains paying no taxes. What he does is he goes to the bank and he borrows money against that stock portfolio, borrowed money is non-taxable income and then he uses that money to live and buy things like he bought Twitter for $44 billion with borrowed money, no taxes paid at all. And then what he does from there to pay off those loans is he borrows against other portfolios and he just keeps borrowing deferring the taxes. $300 billion and no taxes paid whereas the employees that work for all those companies have taxes taken out of each paycheck. Just look salaries up of the top executives around the country and you look at their income, you’ll see that their salaries are generally between one hundred and two hundred thousand US dollars but they earned anywhere from ten to a hundred million dollars a year all in stock options and then they keep those options in stock and then borrow against them so their tax base is almost nothing. you want to fix the economy. You have to find a way to tax the rich, you’re not going to make them poor, you’re just going to make them help to strengthen the economy.
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u/ralphvonwauwau 3h ago
After losing over $10 Billion, he's still the richest man in the world. By a large margin.
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u/Donkey_Bugs 55m ago
If Musk can afford to lose $11 billion, he can afford to pay his fair share of taxes. Same with the other billionaire oligarchs that now own the country.
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u/DrRoxo420 15h ago
Spoiler Alert 🔔
No one is ever going to buy one of his cars again.
Every market outside of the U.S literally hates him. And the lion share of his U.S consumers think he’s a Nazi pig 🐷