Elon Musk is used to making headlines, but this time it’s for the wrong reason. Tesla’s stock dropped dramatically over the weekend, wiping $10 billion from Musk’s fortune in a single day.

Investors panicked after reports of falling demand in key markets like China and Europe. Rising competition from new electric vehicle brands is also putting pressure on Tesla’s once-dominant position.

Social media lit up with reactions. Some critics celebrated Musk’s loss, calling it “karma” for his controversial online behavior. Others worried about what it means for the future of EVs, as Tesla has long been seen as the industry leader.

Financial experts pointed out that Tesla has faced ups and downs before. Musk himself has shrugged off similar crashes in the past, often bouncing back stronger. Still, $10 billion in one day is not a number anyone can ignore.

For Musk, who’s juggling Tesla, SpaceX, X (Twitter), and more, this setback might just be another challenge to overcome. But for investors, it’s a wake-up call that even giants can stumble.