Nikola founder Trevor Milton, center, leaves a federal courthouse in New York, Thursday, July 29, ... [+] 2021, after being charged with three counts of criminal fraud. Milton’s fortune has dropped from $8.7 billion at its height, in June 2020, to just $1.1 billion at the end of trading Thursday, according to Forbes estimates. Milton’s wealth peaked on June 9, 2020, when Nikola shares closed at a high of $79.73. Additionally, Forbes estimates that Milton netted nearly $200 million after taxes from selling Nikola shares. “That could be significant terms of properties, real estate, as well as any other investments that he may hold”— including Nikola stock.

Source: Forbes July 30, 2021 17:15 UTC