Musk loses R $ 70 billion with the fall of Tesla’s shares after announcing the creation of the ‘Party of America’

Investors are demonstrating exhaustion in the face of the billionaire’s insistence on getting involved with politics. Papers have retreated 35% since November and closed last week at $ 315.35. Alliance between Donald Trump and Elon Musk comes to an end, billionaire Elon Musk lost $ 13.5 billion (more than $ 70 billion) with the fall of Tesla’s actions on Monday (7), after the billionaire plans to launch a new political party in the US rekindle concerns between investors about their commitment to the future of the electric vehicle manufacturer. Tesla’s shares fell more than 4% around 11am. Musk is still the richest man in the world, with equity of $ 391.7 billion ($ 2.1 trillion), according to the ranking of forbes magazine real -time billionaires. Musk presented on Saturday the “America Party”, expressing his discontent with the Pack of Tax Cuts and Spells of President Donald Trump, called “One Big, Beautiful Bill.” The billionaire’s initiative happens just over a month after its departure from the government, when it commanded the Department of Government Efficiency (Doge), the announcement of the new party also represents a new climb in its dispute with Trump and occurs shortly after Tesla recorded the second consecutive drop in vehicle deliveries, which further aggravated the distrust of investors. The company’s shares already accumulate loss of over 21% this year. Trump and Musk exchanged barbs on social networks in early June due to the tax law, with the US president threatening to cut off government contracts and subsidies linked to Musk. “Investors are concerned about two things: one is the possibility of Trump retaliating affecting subsidies, and the other – most importantly – is a distracted musk,” Sao Wilson, Saxo Markets strategist, told Reuters agency. Musk, who spent about $ 300 million supporting Trump and other Republicans last year, said in May that he would reduce his political spending and remain Tesla’s CEO for another five years, with the aim of calming investors about their focus and bonds with the US government. Wedbush analyst Dan Ives said that many company investors are demonstrating a “sense of exhaustion” in the face of Musk’s insistence on getting involved with politics. The shares, which exceeded $ 488 in December after Trump’s reelection in November, have retreated 35% since then and closed last week at $ 315.35. * With information from the Agency Reuters. 2014 Tesla Model S is destroyed and auctioned in London Henry Nicholls/AFP ‘Let’s have to take a look at it,’ says Trump about the possibility of deporting Elon Musk the virtual war between Donald Trump and Elon Musk Arte/G1 Elon Musk in the White House in Washington Reuters/Carlos Barria

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