Tesla CEO tweeted he is switching to the GOP, calling Democrats 'the party of division & hate.' He blasted Biden and the S&P Global Index after being spurned by them.
Musk said that it was “flat out stupid” for the platform to ban Trump after his supporters raided the U.S. Capitol on Jan. 6, 2021.
Also on Wednesday, Musk tweeted that environmental, social and governance investing, or ESG, was “a scam” after Tesla lost its spot on an S&P Global index that tracks companies on their ESG standards. He also predicted that “political attacks” on him would “escalate dramatically in coming months.” Tesla shares, meanwhile, sank to their lowest level this year, wiping $12.3 billion from his wealth, while Twitter further extended its slide. All told, Musk has lost $49 billion since launching his bid for Twitter last month, partly as the wider market tumbled and as some investors in Tesla grew concerned over how he’d fund his offer for the social media giant. Recently, Musk has said the deal is “on hold” while he confirms Twitter’s internal data on the prevalence of bots.
He remains the world’s richest person, with a fortune of $209.9 billion, according to the Bloomberg Billionaires Index. He’s had $60.4 billion shaved off his wealth this year, trailing only Binance Chief Executive Changpeng Zhao, whose net worth is down $81 billion, and Jeff Bezos, whose fortune fell $62 billion.
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