Elon Musk experienced a significant financial decline, equating to 25% of his wealth, during Donald Trump's second term in office.
A Hefty Price to Pay: Elon Musk finds himself in a financial pickle, as his fortune plummets by an astonishing $113 billion. Bloomberg reveals that Musk's allegiance with U.S. President Donald Trump and his involvement with DOGE (Digital Currency, Dogecoin) are the primary culprits behind this monumental loss. In a Washington Post-ABC News-Ipsos poll, a whopping 57% of Americans express disapproval towards Musk's actions.
Furthermore, Musk's endeavors have faced substantial criticism from the U.S. administration and Congress. According to a Bloomberg source, Musk frequently meets with White House Chief of Staff Susan Rice to keep her abreast of his activities. Despite this, Musk retains his special government employee status, according to another agency source.
Tesla, one of Musk's businesses, has suffered significantly since the start of the year. The company's stock has nosedived by 33%, resulting in a massive market value loss of $448.3 billion since January 17. Tesla's net profit declined by an alarming 71% in both the fourth quarter of 2024 and the first quarter of 2025. Musk conceded to a "noticeable downturn" during his government stint and promised to minimize his time devoted to DOGE.
Despite his fortune plunging by a quarter since Donald Trump took office, Musk remains the world's wealthiest individual, with a net worth estimated at $335 billion, according to Bloomberg's Billionaire Index. Jeff Bezos, Amazon's founder, and Mark Zuckerberg, Meta's founder, rank closely behind Musk with net worths of $209 billion and $195 billion, respectively.
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Enrichment Data:- Elon Musk's net worth dropped from a $486 billion peak in December 2024 to $330 billion by March 2025 and then fell below $300 billion in early April 2025, representing a 31% YTD loss.- Tesla's market cap declined from $1.5 trillion (December 2024) to $700–880 billion (March 2025), with shares plummeting by 40% in 2025.- Donald Trump's tariff policies had an immediate impact on the market but were a boon for Musk due to the April 9 tariff rollback rally, which echoed gains across tech billionaires.- Mark Zuckerberg shed a whopping $17.9 billion in a single day, while the world's top 10 billionaires collectively pocketed $135 billion during the April 9 recovery.
- Elon Musk's net worth decreased by a quarter since Donald Trump took office, with Bloomberg's Billionaire Index estimating it at $335 billion.
- Musk's alliance with President Donald Trump and his association with DOGE (Digital Currency, Dogecoin) are said to be primary reasons for the decreasing fortune of the tech entrepreneur.
- Despite the declining market value of Tesla, Musk retains his special government employee status, according to another agency source.
- The fourth quarter of 2024 and the first quarter of 2025 saw an alarming 71% decline in Tesla's net profit.
- In a Washington Post-ABC News-Ipsos poll, 57% of Americans express disapproval towards Musk's actions in the realm of politics and business.
