Tech billionaires lose $150 billion in AI and chip stock rout
Elon Musk alone lost $80 billion as Tesla and SpaceX shares sank, with Democrats' midterm wins fuelling sell-off
The world's nine wealthiest tech tycoons saw more than $150 billion wiped from their combined fortunes on Thursday, amid a sell-off in AI and chip stocks; the Nasdaq plunged into correction territory. Elon Musk lost roughly $80 billion, the largest single-day decline, amid an 11 per cent drop in Tesla shares and a 9 per cent fall in SpaceX stock.