Tesla has lost nearly half its market value since its founder, Elon Musk, bid for Twitter in April, reducing his net worth by about $70bn and putting his title as world’s richest person at risk.
Shares in the electric car company traded at $340.79 on 13 April, the day before Twitter revealed in a securities filing that the billionaire had made a hostile bid to buy the social media company for $43.4bn. Since then the Tesla share price has plunged by 49% to $173.44 (£141.29), also due to concerns around disruptions at one of its factories in Shanghai.
