BUSINESS
Elon Musk’s net worth dropped below USD 400 billion as Tesla shares fell 27% amid weak sales in Germany and China.
Elon Musk’s net worth has fallen below USD 400 billion for the first time in two months. The decline is mainly due to a sharp drop in Tesla’s stock price, which has fallen 27% since mid-December. The electric car company had reached an all-time high during that period, as investors hoped that Musk’s connection to former U.S. President Donald Trump would benefit Tesla’s future.
According to the Bloomberg Billionaires Index, Musk’s wealth peaked at USD 486.4 billion on December 17, following Trump’s election victory. Since then, Tesla’s stock has struggled, particularly last week, when it had its worst performance since early October. The company’s shares dropped 11% after reporting disappointing monthly sales figures.
Tesla’s sales in Germany fell by 59%, hitting their lowest level since 2021. Meanwhile, sales in China declined by 11.5% compared to the previous year due to tough competition from Chinese automaker BYD. On Monday, Tesla’s shares dropped for the fourth consecutive trading day, falling another 3% to USD 350.73.
Musk’s Focus on Politics
Musk’s political stance has played a big role in Tesla’s stock movements. After Trump took office, Musk has been focusing heavily on Washington, working on various cost-cutting initiatives. He has led efforts to reduce government spending, including cutting USAID funding and reviewing the Treasury Department’s expenses. Additionally, he has backed a plan to downsize the federal workforce by offering employees eight months of pay in exchange for voluntary resignations.
However, despite investors’ hopes, the Trump administration has yet to introduce policies that would directly benefit Tesla. There have been no updates on electric vehicle tax benefits or self-driving car regulations, both of which Musk sees as crucial for Tesla’s future. Analysts at investment firm Robert W. Baird recently expressed doubts about Tesla’s robotaxi business after the company failed to provide clear guidance on production volume in its latest earnings report.
Musk’s Wealth Shift
Although Musk’s Tesla shares still make up the largest portion of his wealth, their recent decline has changed the balance of his fortune. His 42% stake in SpaceX is currently worth USD 136 billion, making it a significant part of his overall net worth. His real-time net worth is USD 381.5 billion, as per Forbes. Meanwhile, his other companies, including artificial intelligence startup xAI, have been securing large investments.
Musk is also involved in a major business deal. According to the Wall Street Journal, he is leading a group of investors attempting to buy OpenAI, the company behind ChatGPT, for nearly USD 95 billion. However, OpenAI’s CEO, Sam Altman, rejected the offer in a post on Musk’s social media platform, X.
Despite these setbacks, Musk remains one of the richest people in the world, with a fortune of USD 394.6 billion. However, with Tesla’s struggles and increasing competition, his position in the billionaire rankings could see more changes in the coming months.
DNA TV Show: Kolkata's Circus Chauraha turned into 'Shaheen Bagh' over Waqf Bill protest?
LSG vs MI: Hardik Pandya creates history, becomes 1st captain in IPL to take five-wicket haul
Earthquake of magnitude 5.0 jolts Nepal, tremors felt in North India
'Co-star got excited during intimate scene, felt violated', Know in details actress and incident
'AI enthusiast job seeker writes his own OBITUARY on LinkedIn, then THIS happened...
Yunus-Modi Talks: Sheikh Hasina extradition raised as PM issues stark warning
Can BIMSTEC replace SAARC? Can India isolate Pakistan in Southeast Asia after Yunus-Modi Talks?
Digital Marketing Certification Worth It? Benefits, Career Impact, and Salary Trends in 2025
Meet Rajkot artisan, crafts 75-meter-long turban for PM Modi that weighs 25 kg, worth Rs...
Kazakhstan unearths massive rare Earth deposit of 1000000 tonnes, eyes global...
China hits back at US with additional 34 per cent tariff on American goods as trade war intensifies
What happens if you eat curd every day after lunch? Here's how your body responds
PM Modi's FIRST meeting with Muhammad Yunus after Hasina's extradition: 'There were talks on...'
Lion inside house in Gujarat leaves residents shellshocked! WATCH viral video
How your skin can reveal secrets about your dating life
'Uber for Teens' launched In India: Who is eligible; here's how to book a ride
Sunil Narine creates history, becomes first player in world to reach this milestone
India’s Digital Sovereignty: Navigating geopolitics and market realities
UP man, dancing on stage with wife on 25th wedding anniversary, collapses and dies; doctors said...
Will iPhones get costlier after Donald Trump's 'Liberation Day' tariffs? Report claims...
When Manoj Kumar got angry on Farah Khan, Shah Rukh Khan for Om Shanti Om joke
Manoj Kumar, popularly known as Bharat Kumar, famous for patriotic films, dies at 87 in Mumbai
How Ronnie Screwvala became richer than Shah Rukh Khan, Salman Khan and Aamir Khan put together
Pakistani man gives CAD 100 tip to Indian student in Canada in heartwarming video! WATCH
Why only 2 countries got spared from Donald Trump's 'liberation day' tariffs? They are...
Viral video: Man dances to 'Radhe Radhe' inside Delhi metro, internet loves his confidence
Expert explains why every woman should have flaxseeds everyday
IPL 2025: Big setback for Gujarat Titans as star pacer returns home due to personal reasons
BTS video of 'Aashiqui 3' leaked? Kartik Aaryan seen in fierce avatar alongside Sreeleela, WATCH
FACT CHECK: Misleading video falsely shows religious hate crime, attack on Hindus in Bangladesh
What is Tripitika? Gifted to PM Modi in Thailand by Paetongtarn Shinawatra
What is the 'no contest clause' in Ratan Tata's will? What if somebody breaks it?
Bengaluru SHAMED! Bihar woman dragged, raped in front of brother