2022 was, in a way, the year of Elon Musk. But While his $44 billion takeover of Twitter in late October made headlines for the success of SpaceX’s astronaut launches and Tesla’s soaring sales, the flamboyant and temperamental boss has faced many disappointments. Thus, Tesla lost two-thirds of its stock market value in 2022, a victim of challenges related to demand for electric cars, the end of easy money on Wall Street, but also the uncertain outcome of the social network.
On the one hand, the multibillionaire sold another 3.6 billion in early December to finance the purchase of his new toy and later several billion dollars worth of Tesla shares. And that said, he doesn’t intend to sell more in the spring yet. Elon Musk also made the social network confused by cutting half of the employees. Suddenly, “Musk has lost all credibility with the investment community,” said Wedbush Securities analyst Dan Ives. Ahead of Oppenheimer’s Colin Rusch, it’s “impossible” to value Tesla without considering Twitter’s volatile management.