Elon Musk’s takeover of Twitter may also be weighing down the shares of Tesla. The electric car maker’s shares have slumped more than 47% since Musk on April 14, 2022, announced the intention to buy out Twitter. Tech giants such as Apple, Microsoft, Alphabet, and Nvidia have fallen between 12% and 25% since April 14.
Tesla has lost $468 billion in market cap since April 14 after Musk’s $44-billion bid for Twitter. Morgan Stanley, according to reports, said the buyout could expose the electric vehicle maker to further risks.
Musk sold shares worth $6.9 billion in Tesla in August and $3.95 billion worth of shares in November to finance his Twitter deal.
On Wednesday, the billionaire entrepreneur, who overtook Jeff Bezos of Amazon as the world’s richest person in September last year, briefly lost his Numero Uno status for the first time in 15 months.
