‘The nail that sticks out gets hammered first’: Elon Musk’s net worth falls $113 billion from Tesla and SpaceX drops

Wall Street had a historic moment the day after Democrats swept the midterms, with the Dow rising 3% on Wednesday, its best performance after a midterm in 44 years . But on Thursday, it erased those gains, dropping 2.9% as investors dumped AI-related stocks like AMD and Micron . But for Elon Musk, who spent an estimated $427.5 million to $483 million on backing Republicans , the losses started on the same day as the rally, and then accelerated.

Source: Fortune Crypto