Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and … [+]
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TSLA
a CEO Elon’s Musk’s outlandish tweets over the weekend about selling 10% of his stake in Tesla are sending the stock in a tailspin.
In the worst one-day decline this year, Tesla shares tumbled nearly 12% Tuesday to $1,023.50 per share, erasing $140 billion in market value for the electric car maker. It’s the second day of declines; Tesla is down 16% since Monday morning, though the company’s market cap still sits above $1 trillion and its shares are still up 148% over the last year.
Musk’s fortune fell $33.3 billion as of 4 p.m. ET Tuesday as a result of the plunge, pushing his net worth to $271 billion, down from $304.3 billion at the close of trading on Monday. He’s still the richest person in the world, according to Forbes, ahead of Amazon founder Jeff Bezos, the…