Are you claiming TSLA is fundamentally worth less than $43.6B, and the mere fact that Elon owns 23% of TSLA shares is worth four hundred billion dollars?

I know that selling 23% of a company in one go would move the market, but a 90% haircut would be bonkers.

Or are you claiming TSLA is special, and the haircut would be 90% just for Elon and just for TSLA because that particular stock is super overvalued due to his celebrity and reality distortion field? That seems a little more believable, but this was a discussion on net worth of generic billionaires to start.