Elon Musk and these other 9 bosses had a terrible, horrible, no good, very bad 2023

Elon Musk and these other 9 bosses had a terrible, horrible, no good, very bad 2023

technology By Dec 29, 2023 No Comments

Elon musk and 9 Other Bosses Faced a Challenging 2023

For some top executives, 2023 is a year they would rather forget. Some of their companies lost billions of dollars, and some have even lost their jobs. Others badly damaged their reputations and face more trouble ahead in 2024.

Elon musk‘s Rollercoaster Year

Shares of tesla, musk‘s most profitable company, more than doubled this year, recapturing more than half of the value they lost during a disastrous 2022. However, tesla encountered numerous problems in 2023.

The company announced a price hike for its Vehicles to keep up demand in the face of increased competition. Furthermore, musk warned investors that it would take more than a year before tesla started making Money on its long-awaited cybertruck.

Federal safety regulators forced tesla to recall virtually all of its more than 2 million Vehicles on US roads to limit the use of its Autopilot feature. The company defended its Autopilot feature, but an investigation by the NHTSA found several serious accidents linked to the feature.

Challenges at spacex and X

At his Space Exploration company, spacex, uncrewed test flights of the Starship ended in explosions not once, but twice. musk‘s Social Media platform, X, saw a significant decline in sales and faced backlash due to hate speech and controversial actions by musk himself.

Struggles at disney and Silicon Valley Bank

disney, under the Leadership of Bob Iger, faced losses at its disney+ streaming service and was hit by a major strike that shut down film and television production. Meanwhile, Silicon Valley Bank revealed a liquidity problem that sparked a crisis in the American banking system.

Fortunes Lost in the East

Indian mogul Gautam Adani faced a significant blow to his fortune following a scathing report by short-seller Hindenberg, which accused Adani of corporate fraud. Additionally, china Renaissance’s CEO disappeared, causing turmoil for the investment bank

The Downfall of Binance CEO and Country Garden

Binance CEO Changpeng Zhao faced Money laundering charges, resulting in penalties and fines of billions of dollars. At the same time, Yang Huiyan, one of the richest women on the planet, witnessed a plummet in her wealth following a default by her company, Country Garden.

Ending on a Sour Note: Walgreens and BP

Rosalind Brewer, the Walgreens Boots Alliance CEO, left her position after the company’s stock fell significantly. Similarly, Bernard Looney stepped down from BP after failing to disclose relationships with employees.

Source: mercurynews

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