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International Business Times UK
International Business Times UK
Niloy Chakrabarti

Musk's Net Worth Nosedives as Tesla Shares Drop 5% Overnight After Major Investor Rejects $1T Pay Deal

Elon Musk Tesla Inc. Norges Bank Michael Burry Robyn Denholm Norges Bank Investment Management

Tesla's stock price plunged more than 5% in after-hours trading on Tuesday, following the disclosure that Norges Bank Investment Management, Norway's sovereign wealth fund, had rejected Elon Musk's proposed $1 trillion (£767 billion) pay package. The move triggered a sharp decline in Musk's net worth, which fell by about $17.5 billion in a single day.

Major Investor's Rejection Sparks Market Drop

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