Billionaire Elon Musk saw his fortune shrink at $ 26.7 billion ($ 150 billion) on Thursday after a healed barbate exchange with US President Donald Trump.
The public dispute between the two negatively impacted the shares of Tesla, a company of electric vehicles that Musk is CEO, which fell 14% in the trading session, reaching its lowest value in four weeks.
According to estimates from ForbesMusk’s fortune fell to $ 388 billion, below the $ 400 billion mark.
The drop in Tesla’s shares has been the largest since March and has been among the 11 largest daily losses of the company since its opening of capital in 2010.
The company’s devaluation on Thursday exceeded US $ 150 billion, a higher value than the sum of the Ford, General Motors and Rivian reviews, the three largest American automakers listed on the bag.
The episode occurred on a relatively stable day in the market, showing the direct impact of the controversy between Musk and Trump.
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The tension between the two climbed after Musk claimed that Trump would not have got a second term without his support, to which the president replied accusing Musk of being “crazy.”
Investors reacted with concern, fearing that the conflict can change the regulatory environment for Tesla, especially in relation to autonomous driving initiatives, which depend on government approval.
Since Trump’s inauguration in January, Tesla’s shares have fallen about 33%, while the S&P 500 rate dropped less than 1% in the same period.
