Elon Musk's net worth falls by $1.6 billion after SEC lawsuit
Tesla CEO Elon Musk's fortune dropped by $1.6 billion on Friday, a day after the Securities and Exchange Commission (SEC) accused him of misleading investors with his tweets about taking the carmaker private. Shares of the company fell 13.9% on Friday. The regulator is seeking to ban Musk, who is worth $21.5 billion, from serving as a director or officer.