Cairo Sun

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Arabic Edition of Xi Jinping: On Respecting and Protecting Human Rights Launched in Cairo

    September 29, 2023

    Third edition of Dubai World Congress for Self-Driving Transport, honours Challenge winners

    September 29, 2023

    Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

    September 29, 2023
    Facebook X (Twitter) Instagram
    Trending
    • Arabic Edition of Xi Jinping: On Respecting and Protecting Human Rights Launched in Cairo
    • Third edition of Dubai World Congress for Self-Driving Transport, honours Challenge winners
    • Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD
    • Smile Train Launches Pan-African Training in Paediatric Anaesthesia
    • New Safety Research Sheds Light on Crucial Child Safety Product Concerns
    • Hinen Company Successfully Concludes Exhibitions in South Africa, Nigeria, and Kenya
    • High-Speed Wi-Fi from Mount Everest Tourist Base Camp
    • Maybelline New York Makes a Splash in Roblox: A Digital Makeup and Music Adventure
    Facebook X (Twitter) Instagram
    Cairo SunCairo Sun
    • Automotive

      BMW’s Neue Klasse ushers in the future of mobility

      September 4, 2023

      Elevate your drive with Mercedes-AMG’s new GLC 43 4MATIC SUV

      August 9, 2023

      Merging legacy and innovation, Porsche unveils the 60th anniversary 911 S/T

      August 8, 2023

      Ford announces recall of 870,000 F-150 trucks over parking brake concerns

      July 31, 2023

      Drive stylishly green with the Mini Cooper SE convertible

      July 26, 2023
    • Business

      Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

      September 29, 2023

      From India to Brazil, leadership transition marks G20 Summit’s conclusion

      September 11, 2023

      African Union Inducted into G20 on India’s Initiative

      September 9, 2023

      Biden and Modi cement ties as India ascends global stage

      September 9, 2023

      Digital work revolution sees the world’s gig economy expand by 12 percent

      September 8, 2023
    • Entertainment

      Youssef Chahine’s cinematic voyage and lasting impact on world cinema

      August 21, 2023

      Amr Diab’s phenomenal musical journey from Port Said to global stardom

      August 21, 2023

      Bollywood star Shah Rukh Khan accused of bribery in son’s high-profile drug case

      July 7, 2023

      Tom Cruise touches down in Abu Dhabi for Mission: Impossible premiere

      June 27, 2023

      Disney’s The Little Mermaid sinks at the box office, fails to make waves

      June 9, 2023
    • Health

      New research warns of liver risk from daily soda consumption

      September 6, 2023

      Sheesha cafes are a lethal mix of health risks and idle talk

      September 6, 2023

      Blue Zone centenarians’ longevity linked to high-carb diet

      September 1, 2023

      Cholesterol – the silent killer and Its Impact on hearing

      August 29, 2023

      The dynamic science behind the static plank

      August 28, 2023
    • Lifestyle

      Unraveling Starbucks’ phenomenon as a worldwide coffee powerhouse

      September 1, 2023

      How Nike’s Kobe 8 Protro Halo Marks an Emotional Milestone

      August 29, 2023

      From labels to legacy – understanding fashion’s hierarchy

      August 21, 2023

      U.S. Polo Assn. Delivers Record $2.3 Billion in Revenue, Shattering $2 Billion Milestone

      June 6, 2023

      U.S. Polo Assn. Launches Spring-Summer 2023 Collection

      April 5, 2023
    • Luxury

      Revolutionizing the ultimate travel watch with Rolex’s GMT-Master II

      August 30, 2023

      Unveiling the pinnacle of luxury – the new aquanaut luce annual calendar

      August 10, 2023

      Audemars Piguet strikes a chord with new ceramic music edition

      August 9, 2023

      Rolex – an odyssey of timeless elegance

      August 8, 2023

      Revolutionary Islamic calendar and moon phase watch from Montres Etoile

      April 17, 2023
    • News

      UAE and India discuss strategic ties at UNGA78 in New York

      September 26, 2023

      Leaders of UAE and Netherlands convene to reinforce mutual cooperation

      September 26, 2023

      UN calls for greater female representation in police forces worldwide

      September 8, 2023

      Africa faces skyrocketing costs of climate change, projected to reach $440 billion

      September 5, 2023

      Revolutionary acoustic study sets new standard for marine conservation in the UAE

      September 2, 2023
    • Sports

      Djokovic clinches Cincinnati title in record-setting clash against Alcaraz

      August 23, 2023

      World Cup hero Iniesta’s highly anticipated debut in the UAE

      August 19, 2023

      PSG’s Neymar shifts gears, heads to Saudi’s Al Hilal

      August 15, 2023

      England captain Kane finds new home with Bayern Munich

      August 12, 2023

      PSG heads to Japan minus Mbappe amid contract dispute

      July 23, 2023
    • Technology

      AI drives MENA Newswire’s entry into Saudi digital media

      September 8, 2023

      Space economy to hit $1 trillion milestone in a few years

      September 5, 2023

      iPhone shipments to surpass Samsung in 2023, says renowned analyst

      September 4, 2023

      India’s Chandrayaan-3 achieves remarkable moon landing at lunar south pole

      August 24, 2023

      How Steve Jobs’ uncontested genius revolutionized technology forever

      August 21, 2023
    • Travel

      World Tourism Day 2023 calls for sustainable growth in tourism

      September 26, 2023

      Air Canada faces backlash as passengers evicted for refusing vomit-soaked seating

      September 7, 2023

      Mombasa becomes flydubai’s newest destination in African expansion

      September 2, 2023

      Bomb threats and violent protests shake France tourism’s foundations

      August 13, 2023

      Abu Dhabi’s Etihad Airways expands horizons with new flight network

      August 10, 2023
    Cairo Sun
    Home » Musk loses $12 billion in a day after slamming S&P ESG rankings
    Business

    Musk loses $12 billion in a day after slamming S&P ESG rankings

    May 20, 2022
    Facebook Twitter Pinterest WhatsApp LinkedIn Tumblr Email Reddit Telegram
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Tesla’s share price collapsed erasing a large chunk of the wealth of the world’s richest man Elon Musk. Musk’s net worth has dropped to $218 billion as Tesla’s shares are down 6.8%, according to Forbes. Musk’s wealth has been diminishing due to recent comments about politics and the removal of Tesla from S&P Global Ratings‘ ESG index. Tesla Inc. fell to its lowest level this year, wiping $12.3 billion from Elon Musk’s wealth, while Twitter further declined. Musk has lost $49 billion since launching his takeover bid last month. This is partly because the wider market tumbled and some Tesla investors became worried about how Musk would finance his deal.

    Musk loses $12 billion in a day after slamming S&P ESG rankingsAn ESG index, which stands for Environment, Social, and Governance, aims to rank companies based on these standards and encourage environmentally conscious investors to invest. The reasons for the removal of Tesla were cited in a blog post published earlier this week by S&P’s Head of North American ESG Indices Margaret Dorn. Tesla’s code of business conduct and lack of a low carbon strategy were also cited as reasons.

    Owing to Musk’s statements on Twitter on Wednesday, his electric car-maker, which is the world’s most valuable car company, saw its lowest dip this year. The company has a total market capitalization of over $1 trillion and its majority shareholding of 15.5% is owned by Musk himself. The Bloomberg Billionaires Index puts Musk’s fortune at $209.9 billion, making him the world’s wealthiest person. Among the billionaires who have lost money this year, he has lost $60.4 billion. This is behind only Binance’s Changpeng Zhao, who has lost $81 billion, and Amazon’s Jeff Bezos, who has lost $62 billion.

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Tumblr Email Telegram

    Related Posts

    Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

    September 29, 2023

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023
    Latest News

    Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

    September 29, 2023

    World Tourism Day 2023 calls for sustainable growth in tourism

    September 26, 2023

    UAE and India discuss strategic ties at UNGA78 in New York

    September 26, 2023

    Leaders of UAE and Netherlands convene to reinforce mutual cooperation

    September 26, 2023

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023
    Business

    Maritime’s green future priced at $28 billion annually until 2050 by UNCTAD

    September 29, 2023

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023
    News

    UAE and India discuss strategic ties at UNGA78 in New York

    September 26, 2023

    Leaders of UAE and Netherlands convene to reinforce mutual cooperation

    September 26, 2023

    UN calls for greater female representation in police forces worldwide

    September 8, 2023
    Automotive

    BMW’s Neue Klasse ushers in the future of mobility

    September 4, 2023

    Elevate your drive with Mercedes-AMG’s new GLC 43 4MATIC SUV

    August 9, 2023

    Merging legacy and innovation, Porsche unveils the 60th anniversary 911 S/T

    August 8, 2023
    © 2022 Cairo Sun | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.