Russia declared war on Ukraine earlier this week.
FREDERIC J. BROWN | Getty Images The news of the invasion caused many to panic and begin short selling their shares as they worried about sanctions, commodity depletions and an increase in the price of goods.
billionaires were among those who saw major financial losses as the market began to dip, and those with strong holdings in certain companies saw their net worths plummet as the market began to dip.
Musk Doubles down on his criticism of the president.
Musk's net worth dropped below $200 billion to around $198.6 billion as he lost $13.3 billion on Wednesday.
His net worth has fallen since he hit a high of $340.4 billion on November 4 of last year.
Before his decrease, Musk was the only person to have crossed the $200 billion mark.
The company's share price dropped to around $700 a share. The stock was up about 0.15% from the day before to around $802 as of late Friday morning.
The number of shares owned by the CEO of the company has been lowered in recent months after Musk promised to sell 10% of his shares in the company in order to fight back against criticism that he was not taxed for his income.
The net worth of Musk was listed as $207 billion.
There is a Feud with Sen. Elizabeth Warren.
The staff of entrepreneurs.
Emily Rella is a news writer. She was an editor at the time, covering entertainment, pop culture, lifestyle and business. She is a graduate of Boston College.
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