Elon Musk suffered a staggering $34 billion drop in his net worth on Thursday, June 5, marking one of the most significant single-day losses in his personal fortune, according to the Bloomberg Billionaires Index.

The plunge came after a volatile exchange with former President Donald Trump, fueled by a series of controversial tweets from the Tesla and SpaceX CEO.

Musk had posted claims linking Trump to Jeffrey Epstein and hinted that Trump played a major role in securing the 2024 presidential victory. The accusations sparked immediate backlash from Trump, who retaliated by threatening to revoke federal contracts with Musk’s companies.

He also warned of removing the electric vehicle (EV) tax credit—introduced under President Biden’s 2022 Inflation Reduction Act—which has been a significant financial incentive for Tesla customers, offering up to $7,500 off EV purchases.

In a sharp response to Trump’s threat, Musk declared he would decommission SpaceX’s Dragon spacecraft.

“This is an unfortunate episode from Elon, who is unhappy with the One Big Beautiful Bill because it does not include the policies he wanted,” said White House press secretary Karoline Leavitt in response to Business Insider’s inquiry regarding Musk’s Epstein-related tweet.

“The President is focused on passing this historic piece of legislation and making our country great again.”

The fallout sent Tesla shares tumbling more than 14%, resulting in an estimated $138 billion loss in market capitalization. Bloomberg estimates that $34 billion of that decline came directly from Musk’s personal holdings.

This isn’t the first time Musk’s tweets have had financial consequences. In November 2021, he ran a Twitter poll asking if he should sell 10% of his Tesla stock. Over 57% of 3.5 million participants voted “yes,” prompting a 16% drop in Tesla shares that week and wiping out $50 billion from Musk’s net worth.

Tobi Adeboyega, a popular Nigerian pastor and founder of the Salvation Proclaimers Anointed Church (SPAC Nation), now, the Nxtion Family has announced his battle with cancer.

Speaking during a pre-recorded sermon with his congregation on Thursday, Adeboyega announced that he had just come out of surgery.

He told his church members virtually, “I was diagnosed with cancer. Yes, you heard me right. I’ve been dealing with cancer for the past few months or even more. I just had a major surgery, that’s why I am not there today.”

“I have just fought the battle and I feel the verdict to continue live was given to me by God for a new level, for a new stage,” the pastor said.

Adegboyega further explained that he believes that his battle and survival are a testament to his purpose to win.

In addition, he made a donation of £100,000 to cancer awareness and treatment for the young population battling the deadly disease.

Adegboyega who focuses on ministering to youths is well known for his luxurious lifestyle.

In 2022, the United Kingdom ordered the SPAC Nation Church to shut down over allegations of failure to properly account for the church’s financial operations.

The church was accused of failing to account for more than £1.87 million in expenses it made.

Authorities have successfully raised a North Korea’s naval destroyer which had been damaged during a failed launch.

According to state media, the country’s leader Kim Jong Un wants repairs to be completed by this month.

KCNA said technicians have lifted upright a capsized 5,000-ton naval destroyer on Saturday, after a failed launch in May.

The ship is now moored at a pier in the northeastern port of Chongjin. Experts will now look at its hull.

South Korean intelligence and satellite imagery also suggested that the ship was in an upright position in the harbor, according to the 38North website.