Elon Musk’s Net Worth Dips Below $300 Billion Mark

Elon Musk experienced a significant drop in his wealth, with his net worth falling to $298 billion on Monday, as reported by Bloomberg's Billionaire Index. This decline can be attributed to the decrease in Tesla's stock value and the recent tariff announcements made by the White House. Year to date, Musk has suffered a loss of $135 billion, according to the Bloomberg Billionaires Index.

Reasons Behind the Wealth Decline

Elon Musk's net worth dipped below the $300 billion mark on Monday for the first time since last year. The decline can be linked to the negative repercussions of the recent backlash faced by Tesla and the implementation of new tariffs.

Significant Decrease in Net Worth

As of the market close on Monday, Elon Musk's net worth stood at $298 billion, marking a substantial decrease compared to his peak. Since the beginning of the year, Musk's wealth has plummeted by nearly $135 billion, representing a decline of approximately 31%, as per calculations by the Bloomberg Billionaires Index.

Impact of Tesla's Stock Performance

The sharp decline in Musk's net worth can be largely attributed to the drop in Tesla's share price, which has slumped by almost 40% this year. This downward trend has had a direct influence on Musk's overall financial standing.

Backlash and Challenges

Musk and Tesla have faced criticism and challenges, particularly due to Musk's involvement in the White House and his role as a key advisor to President Donald Trump. Concerns have been raised by investors and enthusiasts regarding Musk's divided focus between his various responsibilities.

Stance on Tariffs and Trade

Elon Musk has been vocal about his opposition to tariffs, advocating for a "zero" tariff policy and promoting free trade between the US and Europe. His public statements on trade policies and tariffs have also influenced market perceptions and discussions surrounding his wealth.

Despite the significant wealth losses, Elon Musk still retains the title of the world's richest person, with runner-up Jeff Bezos trailing behind by over $100 billion as of Monday.

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By: kvlamis@businessinsider.com (Kelsey Vlamis)
Title: Elon Musk’s Net Worth Dips Below $300 Billion Mark
Sourced From: www.businessinsider.com/elon-musk-wealth-drops-tariffs-tesla-backlash-2025-4
Published Date: Tue, 08 Apr 2025 02:42:03 +0000