(Twitter) The net value of Tesla CEO Elon Musk fell by about $12.3 billion in a single day after labeling the environmental, social, and governance aspects of investing a scam.
Musk faulted the inclusion of Exxon among the top ten in ESG, while his electric vehicle maker Tesla failed to make a list. The Tesla CEO said that ESG is being “weaponized by phony social justice warriors.”
In a separate tweet, Musk announced that he had switched from Democrat to Republican. He said that he supported Democrats initially because “they were (mostly) the kindness party,” but it has not become an outfit of division and hate. Musk predicted that he would face more “political attacks” in the coming months.
Musk has now lost $49 billion since launching a Twitter bid last month, even as Tesla investors become concerned about how he would finance the $44 billion offer. He still remains the world’s richest person, with a net worth of $209.9 billion.
TSLA: NASDAQ is currently up +1.91% in premarket, TWTR: NYSE is up +1.37%.
