Elon Musk loses $19 billion after Tesla shares plunge 14%. What’s spooking investors?

Tesla shares plunged over 14.5 percent to close below $320 after its Q2 earnings missed profit estimates for the first time in more than two years. The automaker reported a negative free cash flow of $1.1 billion in the June quarter, hurt by $5.8 billion in capex as it accelerates spending on AI, self-driving, robotaxis and humanoid robots. Musk-led Tesla is planning over $25 billion in capex this year, nearly triple last year, and the share price crash pulled Elon Musk's net worth below $732 billion.