Brian Chapata | Bloomberg
Elon Musk spent Wednesday on Twitterannouncing his political transition from Democrat to Republican, destroying the ESG and responding to several users of the social networking website he agreed to buy.
Meanwhile, Tesla has sunk to its lowest level this year, wiping out $ 12.3 billion from its wealth, and Twitter has extended it even further. In all, Musk has lost $ 49 billion since launching his Twitter bid last month, in part because the broad market has fallen and some Tesla investors are worried about how he will fund his bid for the social media giant.
The 50-year-old Musk remains the richest man in the world with a fortune of $ 209.9 billion, according to the Bloomberg Billion Index. This year, he lost $ 60.4 billion in wealth, second only to Changpeng Zhao of Binance, who fell $ 81 billion, and Jeff Bezas, who fell $ 62 billion.
Tesla’s CEO became increasingly high-profile after releasing his $ 44 billion offer for Twitter. Wednesday was no exception.
He tweeted that ESG was a “scam” after Tesla lost its place in the S&P Global index, which tracks companies by their environmental, social and governance standards. He also predicted that “political attacks” on him “are sharply exacerbated in the coming months.”
In a separate tweet, Musk said he has supported Democrats in the past because “They were (mostly) a party of kindness,” but now changed his mind.
“They have become a party of division and hatred, so I can no longer support them and will vote for the Republicans,” he said.
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