Musk Lost $16.3 Billion In Tesla’s Biggest Ever Stock Drop

Musk Lost $16.3 Billion In Tesla’s Biggest Ever Stock Drop

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Tesla’s chief executive Elon Musk’s wealth shrunk by $16.3 billion in a single day as the company’s shares tanked, Bloomberg reports. Tesla’s stock plunged by the most in its history yesterday, logging a total day loss of 21.1 percent to $331.21 apiece, according to MarketWatch. The drop was the result of a selloff that followed the 1-for-5 stock split that the company announced after its stock reached a record high, making it the most valuable car company in the world. The selloff began soon after when Tesla announced a…

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