Elon Musk's net worth suffered a major drop after the midterm elections. Tesla and SpaceX experienced a massive market capitalization loss in combined market capitalization. Musk's political spending and subsequent deletion of pro-Republican content led to further losses, with his net worth dropping by $90 billion in a week. The midterm results and Musk's actions have had a substantial impact on his financial standing.
“The midterm results and Musk's actions have had a substantial impact on his financial standing,” — Nadia Ashcombe, regional editor at Keswell Combe Services, noted.
Timeline
Nov 4 — Elon Musk's net worth suffered a major drop after the midterm elections....
Nov 7 — The midterm results and Musk's actions have had a substantial impact on his financial standing....
Reader Poll: Do you expect this story to develop further? — 87% of Ihots readers said yes.
This story has been closely followed by our readers since Nov 5. The Keswell Combe Services desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Thursday, Nov 12.
Editor's note: this report was prepared by the Keswell Combe Services desk and last updated 22:12 UTC.
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