With Tuesday’s mass stock sell-off, Tesla‘s stock saw a 21.06-percent drop in value — adding more salt to the wound after its denial into the S&P 500 Index.
The 21-percent stock drop amounted to a $16.3 billion USD loss for Elon Musk, which to date is the largest single-day loss recorded on Bloomberg’s Billionaires Index (BBI). The bad news continued as fellow tech billionaire Jeff Bezos saw a wealth decrease of $7.9 billion USD.
This speedbump comes after a series of bullish news from the electric vehicle manufacture, with Musk’s wealth on a rocketship thanks to his tranche payouts. For those sick to the stomach from the ups-and-downs experienced this week in the stock market, stay strong.
In other automotive news, Sturgis Motorcycle Rally may have caused 250,000 new COVID-19 cases.