Tesla and SpaceX lose over $420B in combined market cap in the two days

Automated excerpt

The midterm elections have dealt a major blow to Donald Trump and his Republican Party, as well as to one of his biggest backers, entrepreneur Elon Musk. Tesla shares fell 3.3% on Wednesday, and on Thursday the decline accelerated, dropping another 10.77%. Given that Elon Musk controls 35% of SpaceX and 11% of Tesla, the loss in value of his personal wealth is around $189 billion (€170 billion).

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