Pakistan, June 6 -- Elon Musk suffered a massive financial blow on Thursday as his net worth dropped by nearly $27 billion. The sharp decline followed a public dispute with former President Donald Trump, triggering a major fall in Tesla stock prices.
Tesla shares plunged 14%, wiping out around $150 billion in market value, according to a report by the Wall Street Journal. The market reaction came after Trump publicly threatened to cancel government contracts with Musk's companies.
Despite the setback, Tesla's stock saw a small recovery later, rising by 0.8% in after-hours trading. However, the earlier drop had already caused significant damage to Musk's wealth portfolio.
Still, Musk holds onto his title as the world's richest person. H...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.