Elon Musk Loses Record $16.3 Billion With Wild Wealth Swings
- Tesla selloff continues as shares of automaker tumble 21%
- Founder of Chinese water company gains $32 billion after IPO
This article is for subscribers only.
Elon Musk’s net worth plunged $16.3 billion Tuesday, the largest single-day wipeout in the history of the Bloomberg Billionaires Index, as the Tesla Inc. rout continued.
The electric-carmaker fell 21% in New York trading -- the most ever -- on news of a partnership between competitors Nikola Corp. and General Motors Co., deepening a selloff that began last week after it was snubbed for inclusion in the S&P 500 Index.