Everyone needs to ‘cut back on how many cars we launch into space’ (video)

Stephen Colbert caught up with embattled Twitter CEO Elon Musk again on Wednesday, teasing the world’s richest man for losing a reported $170 billion in the 2022 calendar year.

Reviewing the day’s headlines during his “Late Show” segment, Colbert came to Musk, saying, “After a series of very public setbacks, Elon Musk’s 2022 net worth loss exceeds $100 billion.”

The live studio audience erupted in applause before Colbert offered him some comfort and advice.

“Listen, Elon: I know it’s no fun belt-tightening, but you’re not alone in these tough economic times! OK? We all need to cut back on how many we launch into space.”

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Musk remains the richest man in the world with a net worth of $169.8 billion, according to Bloomberg and its Billionaires Index. But the CEO, 51, has lost a reported $169.8 billion over the past calendar year after gaining $8.6 billion on Monday. For 2022, he is down $100.5 billion after reaching a personal best of $340 billion a little more than a year ago, Bloomberg reported.

Twitter is not the only company of Musk’s to give him strife.

Shares in Musk’s Tesla, which make up the bulk of his fortune, are trading at their lowest level since November 2020, thanks to a series of challenges for the electric car maker. These include supply chain issues and high material costs, covid-related issues in China and a taillight recall that affected more than 300,000 cars. As a result, Tesla shares have fallen 57.52% over the past year. After falling 6.8% in New York trading on Monday, TSLA rebounded slightly on Tuesday to close up 1.22% at 169.91.

Colbert also mocked Musk earlier this week for Twitter’s snub of advertisers, joking that Musk’s SpaceX is thankfully still sticking to their “big ad campaign on Twitter.”

“Yes, Elon’s SpaceX is going to save Elon’s Twitter. And Elon’s solar company is going to save Elon’s Tesla,” Colbert said, before breaking into a “Lion King”-inspired riff on the song “Circle of Life,” aptly quoted here like: “It’s the circle of jerk!”

Jeremy Bailey contributed to this story.

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