Elon Musk's net worth has taken a $15.3 billion hit after the Tesla CEO announced he was to form a new political party. The news sent ripples through financial markets and spooked investors concerned about Musk's political ambitions and possible implications for Tesla's brand and business operations.

One of the best-known Tesla analysts laid out a plan for the electric and self-driving vehicle giant’s board to curb the firm’s controversial CEO Elon Musk, the latest evidence of Wall Street growing fed up with Musk’s non-Tesla actions, including an ugly spat with President Donald Trump.