Elon Musk lost $10 billion in a single day after sexual misconduct allegations surfaced

After accusations of sexual misconduct against him emerged last week, Tesla founder and CEO Elon Musk lost $10 billion in a single day, Business Insider reports.

On Thursday, Insider reported that the aerospace firm founded by Musk paid a flight attendant $250,000 to settle a sexual claim that Musk sexually propositioned her while she was giving him a massage. Musk has denied the allegation.

According to Insider, the allegation and the financial fallout "is just the latest incident in a protracted wealth decline since the start of this year."

"Per Bloomberg's estimate, he is now more than $69 billion poorer year-to-date. That's partly because Tesla's stock price was pulled down amid a global stock-market selloff as investors worried about the health of the global economy," Insider reports.

READ MORE: ‘Stay out of our elections’: Trump shooting himself in the foot with Georgia voters