Elon Musk lost her net worth of $10 billion a day after allegations of sexual misconduct were made.

  • Elon Musk’s net worth fell by $10 billion on Friday as Tesla stock plummeted, according to Bloomberg.
  • Tesla’s stock fell after reports that SpaceX had settled a sexual harassment lawsuit against him.
  • One analyst noted that Tesla’s backers fear “core workforce risk” and that “the perception is real. [Wall] Street.”

Tesla founder and CEO Elon Musk lost $10 billion a day after allegations of sexual harassment were filed against him.

He was worth about $212 billion on Thursday. according to Bloomberg Billionaires Index. After the allegations broke out on Thursday night, his fortune fell to around $20 billion.

According to Insider’s report, Musk-founded aerospace company SpaceX paid its flight attendants $250,000 to settle a sexual misconduct lawsuit against Musk in 2018. Musk denied this claim.

Musk owns around 47% of SpaceX. Last week, the company was valued at an estimated $125 billion. However, as it is a privately held company, its value does not change significantly from day to day.

Tesla’s share price performance in the open market has the biggest impact on Musk’s fortune. Musk owns about 15% of the company, per BBC. Tesla’s stock price after the allegations surfaced Tanking 6.4%.

But the news of Musk’s sexual assault and the financial losses associated with it are only the latest in a long-running decline in assets since earlier this year. According to Bloomberg estimates, he is now more than $69 billion poorer than he was at the beginning of the year. That’s partly because Tesla’s stock price fell as investors sold the global stock market. worried About the health of the global economy.

But Tesla’s investors may have been thinking about “key risks,” or how the harm one individual faces can negatively affect the entire organization. Wedbush analyst Dan Ives said, “Musk’s risk of distraction (perceived reality) is hard to ignore. Tweet On Thursday, he mentioned Musk’s split interest in Tesla and his upcoming Twitter takeover.

Tesla stock’s decline has accelerated since Musk announced in April that he would make Twitter private for $44 billion. Tesla’s stock plunged more than 12% in the day after the announcement, as shareholders wondered how he would finance his Twitter takeover. report.

In the past week alone, the automaker’s share price has fallen 14%, losing about $110 billion in market value. report. “As long as there’s a Twitter deal and Tesla’s stock goes down, people worry that Musk will have to sell more stock and he won’t pay attention to Tesla,” Black said. He told Bloomberg that he is the founder and managing partner of an actively managed ETF Future Fund LLC.

Musk is likely to further shrink his fortune as Tesla continues to be hit by bad news. Friday, new documentary “Elon Musk’s Short Intensive Course,” premiered Musk’s response to a car crash that was presumed to have occurred because the autopilot function of a Tesla car did not work properly.

On the same day, Musk announced on Twitter that he was building a “hardcore litigation division” at Tesla that would report directly to him without mentioning Insider’s story or documentary. He was looking for a candidate who was aggressive and would not back down.

“It will bleed,” he said. Tweet.

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