Expensive Decision To Make Elon Musk A Political Party, Loss Of $ 76 Billion
At the beginning of trading on Monday, Tesla’s share price was 7.5 % decrease
New York: The world’s richest man, Elon Musk, has announced the announcement of forming a new US political party.
The shares of his company Tesla have dropped drastically, which has reduced the company’s value by about $ 76 billion.
According to the British newspaper The Guardian, on the beginning of trading on Monday, Tesla’s share price was reduced by 7.5 %, which is due to the announcement of the establishment of a new “US Party” by Elon Musk.
This decline came to the fore due to the fears of investors that Musk’s interest in politics could hinder Tesla’s attention and development.
Donald Trump has criticized him on social media, calling Elon Musk’s political party a “ridiculous”. “Elon Musk has completely got off the tracks, and has become a train rack,” Trump said.
Elon Musk wrote on his platform X (formerly Twitter): “We are living in a party system, not in democracy.” America Party “You have been created to bring your independence back.”
After this situation, investors fear that Elon Musk’s focus will go from companies to politics, which can be detrimental to Tesla.
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