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.

“It is about time that the common sense man and the business man and the farmers and bankers of this country get together and formed a third political party,” William H. Woodin, the industrialist and future Treasury Secretary, told The Wall Street Journal on April 6, 1922.

Maslansky + Partners CEO Michael Maslansky evaluates the American political landscape on ‘The Will Cain Show.’

David Sacks, President Trump’s artificial intelligence (AI) and crypto czar, urged tech billionaire and friend Elon Musk to reconsider his recent third-party push, arguing his political goals

A renewal of executive churn is marking the billionaire’s return to business.