Following the weak economic outlook Elon Musk presented in the company’s recent earnings call, and as Tesla shares have begun falling hard, the CEO’s net worth has endured a $30 billion hit.

In its recent report, released after-hours on Wednesday, Tesla reported revenue of $23.35 billion for the third quarter, an increase of 9% year-over-year. However the revenue total underperformed a Street consensus estimate of $24.38 billion. In addition, profit, at $1.85 billion, was down both month over month and year over year.

Meanwhile on the earnings call, Musk pointed to rising interest rates, hinted there would be further price cuts in the future, and said there would be a slowdown in new developments by the company, such as the new Gigafactory in Mexico, all of which sent shares nosediving. The company has also refused to comment on the deployment of the new humanoid robot it is developing at its factories, code-named Optimus, as well as the timeline on the delivery of the new updated Model 3 in the US.

During the call, the CEO said, “If the macroeconomic conditions are stormy, even if the best ship is still going to have tough times, the weaker ships will sink. We’re not going to sink. But even a great ship in a storm has challenges.”

Tesla shares fell 15.2% over the week, to $211.99 at the close on Friday, compared to a $250.10 on Monday. The decline in the share price was most noticeable in the net worth of the billionaire CEO.

On Tuesday, Musk’s net worth stood at a staggering $234 billion. However over the course of the week, that number declined by $30 billion, leaving him going home at the end of the week worth only $204 billion, according to data from the Bloomberg Billionaire Index.

The decline did not affect his overall ranking however, as he held on to the position of the richest individual in the world, with LVMH CEO Bernard Arnault coming in behind him in second place.