Elon Musk’s value dropped more than any other billionaire this week on concerns about Tesla’s inventory.
Tesla set new records for both deliveries and production this last quarter, shipping some 427,000 vehicles and producing a total of 440,808. Unfortunately for Musk, investors were concerned about the extra inventory the company carried, according to Forbes. Model 3 inventory, in particular, was unusually high.
The outlet reports that, as a result of the inventory concerns and the subsequent Tesla stock drop, Musk’s worth shed roughly 7%, or $14.5 billion. Despite the drop, Musk remains firmly in the number two spot for world’s richest person, sitting at a comfortable $187.9 billion.
