Elon Musk's Fortune Drops $41 Billion as Tesla Struggles With Slowing EV Demand
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Elon Musk's net worth has dropped $41 billion in 13 days as Tesla stock falls 23% since October 17.
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Tesla and other automakers like GM and Ford are slowing EV production due to weak demand and high costs.
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Tesla's Q3 margins declined significantly to 5.3% excluding credits, down from 16.1% a year ago.
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Musk said the Cybertruck is extremely expensive and complicated to build.
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Automakers need EV costs to decrease substantially before accelerating production again.