The richest man on the planet has taken a serious financial hit since the start of the year
Elon Musk’s net worth has crashed by a reported $120 billion over the last two months, causing a financial expert to weigh in on the plunge.
At 52 years old, Elon Musk has his hands in numerous ventures, from revolutionizing space travel and electric vehicles to influencing social media, politics, and beyond.
Thanks to his expansive portfolio of profitable enterprises, Musk—recently appointed as Senior Advisor to the President of the United States—is now recognized as the world’s richest individual, boasting a staggering net worth of $330 billion, according to the Bloomberg Billionaires Index. This places him significantly ahead of Meta founder Mark Zuckerberg ($221B), Amazon’s Jeff Bezos ($220B), LVHM’s Bernard Arnault ($184B), and Oracle’s Larry Ellison ($176B).
Elon Musk’s net worth has taken a significant hit, plummeting by approximately 24 percent over the past ten weeks, according to Business Insider.
The decline is largely attributed to Tesla’s stock price plunging around 35 percent this year, dropping from about $404 to $263, reports Entrepreneur. This sharp downturn has also contributed to Tesla’s overall market value shrinking by over $400 billion.
Adding to Musk’s financial woes, US sales of Tesla vehicles reportedly tumbled by a staggering 16 percent between December 2024 and January 2025, according to Cox Automotive.
Investors have been distancing themselves from Tesla for multiple reasons, notably concerns about Musk’s close ties to US President Donald Trump. In July 2024, Musk publicly endorsed the 78-year-old president and spent over $250 million campaigning for Trump’s re-election in Washington DC. Much of the money was invested in direct mail, canvassing, and phone outreach, as reported by ABC News. Musk also leveraged his social media platform, X—which he acquired in October 2022 for $44 billion—to rally Republican supporters.
Following Trump’s inauguration on January 20, Musk was appointed as the head of the Department of Government Efficiency (DOGE), tasked with cutting $1 trillion in federal spending and addressing the US government’s $36.56 trillion debt.
Experts suggest that Musk’s political involvement and proximity to the White House may have adversely impacted his work with Tesla.
Elon Musk’s net worth has taken a significant hit, plummeting by approximately 24 percent over the past ten weeks, according to Business Insider.
The decline is largely attributed to Tesla’s stock price plunging around 35 percent this year, dropping from about $404 to $263, reports Entrepreneur. This sharp downturn has also contributed to Tesla’s overall market value shrinking by over $400 billion.
Adding to Musk’s financial woes, US sales of Tesla vehicles reportedly tumbled by a staggering 16 percent between December 2024 and January 2025, according to Cox Automotive.
Investors have been distancing themselves from Tesla for multiple reasons, notably concerns about Musk’s close ties to US President Donald Trump. In July 2024, Musk publicly endorsed the 78-year-old president and spent over $250 million campaigning for Trump’s re-election in Washington DC. Much of the money was invested in direct mail, canvassing, and phone outreach, as reported by ABC News. Musk also leveraged his social media platform, X—which he acquired in October 2022 for $44 billion—to rally Republican supporters.
Following Trump’s inauguration on January 20, Musk was appointed as the head of the Department of Government Efficiency (DOGE), tasked with cutting $1 trillion in federal spending and addressing the US government’s $36.56 trillion debt.
Experts suggest that Musk’s political involvement and proximity to the White House may have adversely impacted his work with Tesla.
This has sparked concerns among experts about how Musk’s government duties might impact his performance as Tesla’s CEO moving forward.
“While the DOGE/Trump Musk iron-clad partnership has created major brand worries for Tesla… we estimate less than five percent of Tesla sales globally are at risk from these issues,” said Wedbush analyst Dan Ives, according to Barrons.
“We expect Musk will better balance his time between DOGE and Tesla/SpaceX over the course of 2025.”
Musk took over as Tesla’s CEO in October 2008, succeeding Ze’ev Drori, who later stepped down as vice-chairman just two months after Musk’s appointment.
Under Musk’s leadership, Tesla has introduced several popular electric vehicles, including the much-anticipated Cybertruck, which began production in November 2023.
In the US, the top-spec Cybertruck is priced between $74,000 and $94,000, according to Car Wow.
