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 

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

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

which coincides with his decline in net worth. 

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

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

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

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

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