Elon Musk's net worth falls by $10bn in a single day after allegations

Billionaire entrepreneur Elon Musk has seen his net worth plummet by $10 billion in a single day soon after allegations of sexual misconduct were made.

On 19 May, it was alleged by business publication Insider that in 2016 Musk exposed himself to a flight attendant, rubbed her leg without consent and offered to buy her a horse in exchange for an erotic massage.

The woman claimed that at the time she had been part of the cabin crew on Space X’s private jets.

In the new revelation, it was alleged that Musk paid the woman $250,000 in 2018 to settle the sexual misconduct claim she had made against him.

The news proved to be costly for Musk, as his net worth dropped by $10 million over the course of one night.

According to the Bloomberg Billionaires Index, Musk’s net worth on Thursday 19 May was $212 billion, but after the news broke that night, the index showed his net worth dropped to $201 billion. Overall, suggests Musk has lost $69 million this year.

Musk has denied the allegations made against him both on Twitter and in an email response to Insider.

Musk tweeted: “For the record, those wild accusations are utterly untrue.”

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In addition, Musk responded to Insider’s request for comment, writing: “If I were inclined to engage in sexual harassment, this is unlikely to be the first time in my entire 30-year career that it comes to light.”

He also called the publication’s article a “politically motivated hit piece” and claimed there is “a lot more to this story”.

The SpaceX and Tesla owner appeared to make light of the allegations made against him in a tweet to YouTube co-founder Chad Hurley.

Musk wrote: “Fine, if you touch my wiener, you can have a horse.”

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