Elon Musk's net worth declined by 25% during Donald Trump's second term.
⚡ Breaking News: Elon Musk's fortunes take a hit! With a staggering loss of $113 billion, the business magnate finds himself in the hot seat due to his ties with former U.S. President Donald Trump. The Washington Post-ABC News-Ipsos poll reveals that a whopping 57% of Americans aren't too happy about Musk's alliances.
Musk's relationships with the U.S. administration and Congress have come under the microscope. According to sources, he's been meeting regularly with White House Chief of Staff Susan Rice to keep her in the loop. It's important to note that Musk remains a special government employee, and his status doesn't seem to have changed.
The brunt of the fallout has been felt by Musk's companies. Tesla, in particular, has taken a beating, with its stock dropping by 33% since mid-January, resulting in a substantial loss of $448.3 billion in market value. Tesla's net profit plummeted by an eye-watering 71% in both the last quarter of 2024 and the first quarter of 2025. Musk did acknowledge that his government involvement has caused a "slowdown" and promised to dedicate less time to DOGE.
Despite this massive dip in his fortune, Musk continues to top the wealth charts, with an estimated net worth of $335 billion, according to Bloomberg's Billionaire Index. Jeff Bezos and Mark Zuckerberg trail behind with fortunes of $209 billion and $195 billion, respectively.
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Note: Elon Musk's political alliance with Donald Trump has faced criticism due to potential conflicts of interest, as well as allegations of undermining democracy, labor controversies, and controversies surrounding his personal conduct.
Additionally, Musk's companies, including Tesla and SpaceX, have struggled recently, experiencing financial and legal challenges, as well as competition and consumer backlash.
- Despite a decreasing net worth of $113 billion confirmed in a recent poll, Elon Musk remains at the top of Bloomberg's Billionaire Index.
- Musk's business, Tesla, has faced a significant decreasing in market value due to a 33% drop in its stock since mid-January.
- The meeting between Elon Musk and White House Chief of Staff Susan Rice has raised questions about his political relationships and potential conflicts of interest.
- In the general-news landscape, Musk's ties with former U.S. President Donald Trump have received criticism for allegedly undermining democracy and labor controversies.
- The technology and finance sectors have been impacted by Musk's politics, with both Tesla and SpaceX facing legal challenges and consumer backlash.
