Why Elon Musk’s US$34 billion loss wasn’t really that – and what it tells us about the philanthropy of the ultra-wealthy
- Written by Tobias Jung, Professor of Management, University of St Andrews
Photo Agency/ShutterstockFollowing a sharp drop in Tesla’s share price, outlets reported that the world’s richest person, Elon Musk, had “lost” US$34 billion (£25 billion) in a single day. That figure exceeds the annual GDP of countries like Iceland, Jamaica or Mauritius. Gaining or losing even 0.001% of that wealth...
