Article by Lucinda Shen
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Call it the cost of sexual harassment allegations in the age of the MeToo movement.
Fallout from sexual misconduct accusations against casino mogul Steve Wynn continued Monday, with shares of his company Wynn Resorts wynn falling another 9%. In total, Wynn Resorts has shed about $3.5 billion in value since the Wall Street Journal published a story on Friday detailing dozens of misconduct allegations against Wynn. Wynn Resorts is now valued at $17 billion.
Wynn, 76, himself has also shed much of his net worth as a result, losing roughly $412 million due to his holdings in the company over the past three days. That stake is now worth roughly $2 billion.
Wynn has denied the allegations and stepped down as the Republican National Committee Finance Chair. He remains CEO of Wynn Resorts.