How company 'lost' $4.3 BILLION after controversial moment on Joe Rogan podcast
One of the most famous episodes of the Joe Rogan Experience (JRE) may have led to billions being temporarily wiped off a company's value.
Rogan's show is one of the most popular in the world and boasts 14.5 million followers on Spotify alone, making it by far the most listened to podcast on the platform.
Back in 2020, Spotify signed a $100 million (£78.8m) deal with Rogan to stream the podcast, which has featured numerous high-profile guests over the years.
Donald Trump, Edward Snowden, Mike Tyson and Brian Cox are just a few of the celebrities to have chewed the fat with Rogan over topics ranging from science and politics to sport and music.
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But perhaps the most famous, or infamous depending on your point of view, guest to appear on the podcast is the richest person in the world – Elon Musk.
The Tesla CEO first appeared on the JRE back in 2018 and created headlines after smoking marijuana, which is legal in California where the podcast is filmed, with Rogan during the episode.
After UFC legend Rogan offered Musk what he described as a joint containing a mix of weed and tobacco, the tech entrepreneur accepted after asking: "I mean, it's legal, right?"
"Is that a cigar?" asked Musk, when offered the joint.
He later added that he "almost never" smoked marijuana, adding: "I don't find that it is very good for productivity".
The pair also enjoyed whiskey during the podcast recording, with Musk pointing out: "Alcohol's a drug."
The appearance on the podcast backfired on Musk, however, with shares in Tesla dropping nine per cent in the wake of the episode.
As reported by the Daily Mail at the time, as much as $4.3 billion (£3.39bn) was wiped off the value of Tesla at its worst point before its share price began to rise again.
According to the BBC, the drop in share price could also be attributed to the departure of chief accounting officer Dave Morton – who resigned from his role hours after Musk's podcast appearance, citing 'public attention' on the company.
Tesla has bounced back from that setback in the years since, with the automotive and clean energy company now boasting a huge market cap of £843.62 billion, according to companiesmarketcap.com.
That makes it the eighth most valuable company in the world, with Musk's own net worth now estimated by Forbes to be around $325 billion (£256bn) – making him the richest person on the planet.
Rory O'Callaghan