Elon Musk has lost $50 billion this week after shares of his company Tesla Inc. plunged for a second straight day on Tuesday, marking the company’s biggest two-day loss in the history of the stock after the CEO polled Twitter to ask if he should sell off some of his stake.
The steep loss comes as it’s revealed that his brother, Kimbal, sold $109 million worth of shares in his 15% stake just one day before Elon surveyed the internet. Tesla closed Tuesday at $1,023.50 a share and opened Wednesday at about $1,010.