Tesla's Market Value Dives $126B After Musk's Twitter Deal

The US billionaire Elon Musk bought the social network Twitter on Monday for $44 billion after two weeks of arm wrestling with the company's board of directors, Matthew Loh reported for Market Insider.

Photo Insert: Tesla's market capitalization is now $906 billion, down from more than $1 trillion on Monday.

The value of Elon Musk's personal stake in Tesla plunged by $40 billion since April 4, Bloomberg reported. On Tuesday, April 26, Tesla lost $126 billion in value after Musk, its CEO, clinched a deal to buy Twitter. Investors fear that Musk may sell some of his Tesla stock to fund his Twitter takeover.

Musk's personal stake in Tesla has fallen by $40 billion in value this month. Tesla's stock plummeted more than 12% on Tuesday, wiping out around $126 billion of market value.

The company's market capitalization is now $906 billion, down from more than $1 trillion on Monday.

According to several media outlets, the pressure on Tesla's stock largely stems from concerns over how Musk is financing his Twitter takeover. The billionaire has obtained a $12.5 billion loan secured against his Tesla shares — he owns a 17% stake in the EV company — and another $13 billion borrowed from Wall Street.

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