Elon Musk loses 12 billion in 24 hours

Elon Musk is the “king” of controversy and in addition to everything that has happened in the “Twitter” theme, the mogul is now involved in another situation. After condemning Tesla’s exit from the Standard & Poor’s (S&P) ESG index on Twitter and announcing his “conversion” to the Republican Party, Elon Musk lost 12 billion in just 24 hours.

Elon Musk even called ESG a fraud.

Environmental, social and corporate governance is an approach to assessing how well a company is working towards social goals that go beyond a company’s role to maximize profits on behalf of company shareholders.

After Tesla’s impeachment, Elon Musk spared no criticism, even publicly exposing his opinion on Twitter.

According to Musk, “Exxon is ranked among the top ten ESG companies in the world by the S&P 500, while Tesla is not on the list! ESG is a fraud. It was set up by fake social justice warriors. »

According to information from Jornal de Negócios, S&P Global Ratings justified the departure of the automaker from this ranking due to problems related to human resources issues, including allegations of racial discrimination. The rating agency also reports alleged manipulation by Tesla in the US investigation into deaths and injuries caused by the brand’s Autopilot.

It was also on Twitter that Musk announced his “conversion” to the Republican Party. “In the past, I voted for the Democrats, because they were (mostly) the kindness party. However, they have become the party of division and hatred, so I will be voting Republican. »

Faced with all that is going on, Musk has already lost $49 billion since launching his hostile public bid via Twitter last month and $60.4 billion since the start of the year, the third biggest loss after Binance CEO Changpeng Zhao (about $81 billion) and Jeff Bezos ($62 million).

Yet the SpaceX founder remains the richest man in the world with a fortune estimated by Bloomberg at $209.09 billion.

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