Musk lost $10 billion in a single day after allegations of sexual harassment were made against him.
He was worth $212 billion on Thursday. His wealth fell to around $201 billion after news of the allegations broke.
According to a report by Insider, a flight attendant was paid $250,000 to settle a sexual harassment claim against Musk. Musk denied the claim.
Musk is the owner of around 45% of the company. The company was estimated to have a $125 billion valuation last week. It is a privately-held company and its valuation does not change much from day to day.
The most significant impact on Musk's wealth is his stock performance in public markets. The company is owned by Musk, per the report. The share price of the company tanked after the allegations were made public.
Since the start of the year, there have been a number of incidents in which wealth has declined. He is now more than $68 billion poorer for the year to date. The stock price ofTesla was pulled down as investors worried about the health of the global economy.
It is likely that the investors were thinking about how the damages faced by one individual could negatively impact an entire organization.
Since Musk announced that he would take Twitter private, the stock price of the company has fallen. After that announcement, shareholders wondered how he would finance his takeover, and the stock of the company plummeted.
As long as the deal is going on, people are worried about Musk.
Musk's wealth is likely to shrink further as his company gets hammered by bad news. On Friday, a new documentary, "Elin Musk's Crash Course", was released, which looks at Musk's response to car crashes that were allegedly caused by the autopilot function in the cars.
On the same day, Musk said that he was building a "hardcore litigation department" that would report directly to him. He was looking for candidates who would not back down.
There will be blood.