Elon Musk loses $12 billion in a day as he tweets politics

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By Brian Chappatta | Bloomberg

Elon Musk spent Wednesday on Twitter, 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, meanwhile, sank to the lowest level this year, wiping $12.3 billion from his wealth, while Twitter further extended its slide. All told, Musk has lost $49 billion 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.

Musk, 50, remains the world’s richest person, with a fortune of $209.9 billion, according to the Bloomberg Billionaires Index. He’s shaved $60.4 billion off his wealth this year, trailing only Binance’s Changpeng Zhao, who’s down $81 billion, and Jeff Bezos’s $62 billion drop.

Tesla’s CEO has grown increasingly vocal since launching his $44 billion offer for Twitter. Wednesday was no exception.

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