"SAN FRANCISCO — Elon Musk’s purchase of Twitter led to a more than $100 billion hit to Tesla’s stock Tuesday, significantly driving down the CEO’s fortune that he is plowing into his takeover of the social media giant.
Tesla’s stock dropped more than 12 percent, bringing its market capitalization down to $906 billion — compared with more than $1 trillion previously — a steep decline the day after Musk and Twitter reached an agreement for the Tesla CEO to take ownership at the company. Musk has pledged billions of dollars worth of his Tesla shares as collateral for his $44 billion takeover of Twitter. If Tesla’s value sinks, Musk could be required to shed some of his shares to meet his loan obligations, leading to a downward spiral in his net worth." WP
https://www.washingtonpost.com/techn...twitter-stock/
Good going, wunderkind!
This guy is looking more and more like a sad version of Howard Hughes.
Too bad Tesla investors are taking it over a barrel for Elon's dreams of dominating the more wretched corners of cyberspace. Hope he doesn't wreck SpaceX while he's at it.