It has been revealed that the world’s richest man, Elon Musk lost a staggering $10 billion in a single day after being accused of sexual misconduct.
This emerged on Friday, May 20 after Tesla’s stock plunged, according to Bloomberg.
Musk is the founder of Tesla.
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The company’s stock price fell after a report that SpaceX settled a sexual misconduct claim against him.
A market analyst said Tesla’s backers feared “key-man risk” and “perception is reality for [Wall] Street.”
Musk was worth about $212 billion on Thursday, according to the Bloomberg Billionaires Index. After news of the allegations broke on Thursday night, his wealth fell to around $201 billion, the index showed.
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According to a report, SpaceX, the aerospace firm founded by Musk, paid a flight attendant $250,000 to settle a sexual misconduct claim against Musk in 2018. Musk categorically denied the claim, saying it came out due to his ongoing purchase of Twitter.
Musk owns around 47% of SpaceX. Last week, the company was estimated to have reached a $125 billion valuation.
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