Tesla drops have seen his net worth crash
Elon Musk’s wealth has taken a significant hit in recent months, with reports showing a dramatic decline of $116 billion from his peak net worth. Despite this drop, he still retains the title of the richest person in the world, holding onto his position by a wide margin.
Musk’s fortune skyrocketed to unprecedented levels after Donald Trump’s victory in the 2024 U.S. presidential election. As a strong supporter and close ally of Trump, Musk’s businesses reaped the rewards of relaxed regulations and heightened government backing, which fueled investor optimism and sent his net worth soaring.
Tesla’s stock price saw an explosive rise between late October and mid-December, more than doubling in value. At the same time, a tender offer confirmed that SpaceX had become the most valuable private company in the world, reaching a staggering $350 billion valuation.
This surge propelled Elon Musk’s net worth from approximately $250 billion to an unprecedented $464 billion—an increase of nearly $200 billion, leaving him far ahead of any other billionaire. However, despite maintaining his position as the world’s wealthiest individual, his fortune has since taken a significant hit, plummeting by $116 billion from its peak, largely due to a drop in Tesla’s stock value, according to Forbes.
As of now, Forbes’ real-time billionaire index places Musk’s net worth at $347.7 billion—still over $100 billion ahead of Meta CEO Mark Zuckerberg ($221 billion) and Amazon founder Jeff Bezos ($219 billion). Meanwhile, Bloomberg’s billionaire index reports that Musk’s wealth has declined by $96.5 billion year-to-date, marking a 22.3% drop.
Much of this downturn can be traced back to Tesla’s falling stock price, with shares closing at $272—the lowest end-of-day price since November 5, which coincided with Election Day in the United States.
Musk’s declining fortune is also likely tied to the tariffs recently announced by President Trump on China. As Tesla’s second-largest customer base and a major supplier of critical materials for electric vehicle production, China’s role in Tesla’s supply chain makes the company highly vulnerable to trade restrictions.
Despite this setback, SpaceX continues to thrive, especially as private sector efforts to explore the Moon gain momentum. Additionally, Musk’s artificial intelligence venture, xAI, is expanding rapidly, even amid ongoing tensions with OpenAI—a company he co-founded alongside Sam Altman.
One particularly striking insight from Forbes is that while Musk’s $116 billion loss may seem modest compared to his overall wealth, that figure alone surpasses the total net worth of all but 11 of the world’s richest individuals. In just three months, Musk has lost more money than the total fortune of industry giants like Nvidia’s Jensen Huang, billionaire industrialist Charles Koch, and Walmart heir Alice Walton.
