Elon Musk's net worth shrinks by $12B amid ESG fiasco, GOP support

After Tesla's stock dropped recently and S&P Global Ratings removed the company from its ESG index

[{"selector":"#anim-9e900130-35ea-4e60-bdce-3ca608cb01f1","keyframes":{"transform":["translate3d(-116.06557%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7825e238-f371-43de-b07f-a68431be77f7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-119f444e-a0f5-455b-b4e7-1b06e668746d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-205e39bf-3b26-42f2-a1cd-493ab768e642 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(35.244006759776276%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

Elon Musk's net worth was wiped out by over $12 billion.

[{"selector":"#anim-b59afc53-82bf-4b2f-a25d-09562157e080","keyframes":{"transform":["translate3d(-100.73711%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc924706-93a2-40ed-9cc1-9c5ee5361727","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7c239ccf-eafd-419f-9136-7f6c65832ca7","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-03ccead2-f92d-43f3-a7c5-1d9fa41ff665","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-be72e5a3-25ca-4699-9d79-656fb2d53aff","keyframes":{"transform":["translate3d(100.73891%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-df0271ea-5705-40fd-aafe-5cef53de22da","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0b558766-ce74-4791-8053-02dc11af7362","keyframes":{"transform":["translate3d(-120.0658%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ff85a5a6-a8d3-4f6d-ba08-a6d6b48cb00c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(33.895547847484295%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

Additionally, Musk announced that he would no longer vote for a Democratic Party candidate in the upcoming elections

[{"selector":"#anim-057dc3c7-4425-4fee-899a-5ee8092131e0","keyframes":{"transform":["translate3d(-115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-71749269-a4f5-4835-838e-b8a087948c94","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-375481aa-bc63-4262-bdd7-41bba093cc64","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-730c7079-c77c-4613-948a-0e1b6639c56f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.401785607500436%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

which coincides with his decline in net worth.

[{"selector":"#anim-09c5db65-678b-41b7-b60f-ab3dcfdc2625","keyframes":{"transform":["translate3d(-115.14196%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-28edb80a-38dd-4247-82c1-c8de7dff635c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7b155775-985c-498f-b177-2b32097dba07","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

In spite of having lost over $12 billion in net worth, Musk still has $210 billion to his name

[{"selector":"#anim-77584e35-675a-451d-bf48-271711e8856a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a28ffd69-ac74-4a20-9e71-31efe41e3727","keyframes":{"transform":["translate3d(100.00000%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e85a45a7-50bb-4f5e-a287-34cb43d2f9c8","keyframes":{"transform":["translate3d(-119.04762%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-24f5633a-6c74-423f-8f12-7a948012e3fd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b3fd60bb-dbab-4438-8525-f69976b4b4fe","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-a2505137-d133-48b4-aafb-3451fc14d9b9","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-14784427-b377-4778-a4e0-b6dd70062f62","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1fc9dbde-1cbe-4825-aa19-40eaaa013499","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Although Jeff Bezos is estimated to have a net worth of $131 billion, he is still far ahead of him.

[{"selector":"#anim-16d1a3e1-83c3-4171-9654-24b0a872c51b","keyframes":{"transform":["translate3d(-115.45741%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-512496d6-4d12-4ce0-94c8-e43dc9d9a7de","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fe0ae312-4f25-4996-ae9b-677db9503a55","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-fa3ba1fb-cf2a-4747-be73-006e7666af3b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.31225574597849%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

According to Bloomberg Billionaires Index, Musk and Bezos' net worth has decreased by $60 billion this year.

[{"selector":"#anim-744bee7c-ebf7-4f80-9a07-aabdc5160f9e","keyframes":{"transform":["translate3d(-114.8265%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7e9d732d-aaf9-48ae-b038-0f64560035fd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-74527c2f-f5de-42a6-a012-54595dc77d85","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-e745f4f6-a5ce-4eb4-87b2-a567e81651b6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(56.56249987200393%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

Wedbush analyst Dan Ives said Tesla's departure from the S&P 500 ESG Index drove the 6.8% drop.

[{"selector":"#anim-48155ecd-4d48-4570-a3f4-a8881110b060","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-382bd892-dbc3-4ce4-b450-7f5e3ee28af4","keyframes":{"transform":["translate3d(99.04307%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ed271fdc-c75e-4181-9e3c-1f4a1b99b5a0","keyframes":{"transform":["translate3d(-99.52267%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f20725e4-9cb7-430e-8470-66bea074e14d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-73946497-7c70-4c4a-b269-65abcebd5a13","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-da5b3c9f-8f49-4a09-8c40-62b4b4d0d095","keyframes":{"transform":["translate3d(-113.88889%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f1b79019-1626-4fc9-ab7b-af1f19d12dde","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7c98902a-5951-4f23-8235-f7fbfadc08ff","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-a0e23eb3-2676-47e9-8940-c0eb2831f553 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(50.312499914669296%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]

In addition to the market doldrums, the ESG issue (environment, social, and corporate governance) weighs on the stock.

[{"selector":"#anim-a61ebaa1-1752-4de8-ad9f-208299064837","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eaf0f513-7727-4097-b9a2-1b5d64828865","keyframes":{"transform":["translate3d(99.52039%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7801ba44-184f-4877-8d81-31af464649a7","keyframes":{"transform":["translate3d(-118.06451%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d81ba28-ab94-4a21-bb06-acaa34e25e9f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f90ca636-0911-40f4-8110-68500d8e0d1d","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-b514453a-5dc1-4e78-a3cf-2b3d7ad5c72f","keyframes":{"transform":["translate3d(-99.28057%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c78aa4f5-3759-40c6-a6b1-91468cf0ea1c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5d39791f-1e43-42ee-9552-60166a9fbe07","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] [{"selector":"#anim-db67e300-11c4-48cb-86ea-32b52b2af16a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}]