Musk loses over 100 billion dollars after Republican election defeat

Elon Musk's wealth dropped significantly, losing $33.5 billion on Wednesday and nearly $80 billion on Thursday, now estimated at $785 billion. The losses follow the midterm elections, raising investor concerns about potential restrictions on data centers and AI development by the Democrats. Both Tesla and SpaceX, which are heavily involved in AI, saw their stock values plummet, with Tesla down about 11% and SpaceX around 8%. Jeff Bezos also experienced a loss of approximately $5 billion, alongside other tech leaders. Despite these losses, Musk remains the richest person in the world, with a net worth more than double that of Bezos.