Elon Musk loses RM54.18bil in a day as he tweets politics, slams ESG

Musk, 50, remains the world’s richest person, with a fortune of US$209.9bil (RM924.58bil), according to the Bloomberg Billionaires Index. He’s shaved US$60.4bil (RM266.05bil) off his wealth this year, trailing only Binance’s Changpeng Zhao, who’s down US$81bil (RM356.79bil), and Jeff Bezos’s US$62bil (RM273.10bil) drop. — AP

Elon Musk spent May 18 on Twitter Inc, announcing his political switch from Democrat to Republican, trashing ESG and replying to several users of the social-media website he’s agreed to buy.

Tesla Inc, meanwhile, sank to the lowest level this year, wiping US$12.3bil (RM54.18bil) from his wealth, while Twitter further extended its slide. All told, Musk has lost US$49bil (RM215.84bil) since launching his bid for Twitter last month, partly as the wider market tumbled and as some investors in Tesla grew concerned over how he’d fund his offer for the social-media giant.