Overview

• Elon Musk’s fortune declined by $25.5 billion to $389 billion, pushing his net worth below $400 billion.
• Tesla’s stock plunged 17 percent to $277 per share, marking its lowest close in four weeks.
• The sell-off wiped about $180 billion from Tesla’s market capitalization, exceeding the combined value of Ford, General Motors and Rivian.
• Thursday’s 17 percent loss ranked as the company’s worst trading day since September 2020 and among its five largest single-day declines since its 2010 IPO.
• The drop followed a public feud in which Musk and President Trump exchanged insults that rattled investor confidence.