Tesla and SpaceX lose billions in value after US midterm elections
Reports differ on the combined decline, with Quartz putting it at $411 billion and CNBC reporting more than $420 billion. Fortune reports that Elon Musk’s net worth fell by $113 billion as the companies moved against a broader market rally, with investors concerned about possible political retaliation.
- Tesla shares are down about 24% for the year, according to Quartz.
Covered by 3 publishers within 16 hours of the first report.
- CNBC: Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms
- Latest Fortune: ‘The nail that sticks out gets hammered first’: Elon Musk’s net worth falls $113 billion from Tesla and SpaceX drops