Elon Musk experienced a major financial loss on with his net worth dropping by about $27 billion after Tesla’s stock sharply fell, according to the Wall Street Journal.
Tesla shares plunged 14% overnight, wiping out $150 billion in market value, following a public dispute between Musk and former President Trump.
Read more: Elon Musk Bids Farewell to Trump Administration
In response, Trump threatened to cut government contracts to Musk’s companies, heightening the conflict.
Tesla’s stock later recovered slightly, rising 0.8% in after-hours trading.
Despite the setback, Musk remains the richest person globally, with an estimated net worth of $388 billion, per the Forbes Real-Time Billionaires List.
His wealth far surpasses the second richest, Mark Zuckerberg, who has $236 billion.
Meanwhile, Donald Trump’s net worth is estimated at $5.4 billion, placing him at No. 689 on the Forbes list.
