Elon Musk faced a significant financial setback on Thursday, losing approximately $27 billion from his net worth after a dramatic plunge in Tesla’s stock, according to a report by the Wall Street Journal.
Elon Musk faced a significant financial setback on Thursday, losing approximately $27 billion from his net worth after a dramatic plunge in Tesla’s stock, according to a report by the Wall Street Journal.
Shares of Tesla (TSLA.O) dropped 14% overnight, erasing $150 billion in market value, following a public feud between Musk and Trump.
In the aftermath, Trump threatened to cut off government contracts to Musk’s companies, escalating tensions between the two.
However, Tesla shares saw a slight rebound, bouncing 0.8% in after-hours trading.
Despite the loss, Musk remains the world’s richest individual, with an estimated net worth of $388 billion, according to the Forbes Real-Time Billionaires List.
The Tesla and SpaceX CEO’s wealth remains substantially ahead of the second-ranked Mark Zuckerberg, whose net worth stands at $236 billion.
Meanwhile, President Donald Trump, whose net worth is estimated at $5.4 billion, is at No. 689 on the Forbes ranking.
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