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Musk Still Counting Cost of Tesla Tweet After Carmaker Rebounds

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Ivan Feinseth, Tigress Financial Partners CIO, discusses Tesla CEO Elon Musk’s settlement with the SEC.(Source: Bloomberg)

Elon Musk may be starting to put those take-private tweets behind him, but his fortune will need more time to recover.

The net worth of the Tesla Inc. chief executive officer stood at $24.4 billion on the Bloomberg Billionaires Index the day before he publicized his ambition to take the company private at $420 a share. His wealth spiked by $1.4 billion on the day of his tweets, then fell to $21.4 billion within a month, after he abandoned the buyout effort without ever making a formal proposal to his board.