Tesla CEO Elon Musk was in court on Friday defending past tweets about a deal that never materialized to take the company private.
Tencent, known as one of the world’s largest gaming and social media firms, invested in Tesla in 2017, taking a 5% stake for around $1.78 billion.
Musk’s loss shattered the previously existing world record: a $58.6 billion loss by Japanese investor Masayoshi Son in 2000.
Elon Musk and Tesla are set to face a jury in a shareholder class action that claims the CEO manipulated Tesla’s stock in 2018.
U.S. billionaires’ net worth shrank the most compared to those in other countries, reports Forbes. Here’s how much money the country’s richest lost in 2022.
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