Elon Musk’s net worth has dropped below $300 billion, just four months after he became the first individual to cross the $400 billion mark.
According to the Bloomberg Billionaires Index, Musk lost $4.4 billion on Monday due to Tesla’s continued stock decline, bringing his total wealth to $297.8 billion. He now ranks as the sixth-largest loser on Bloomberg’s list of the world’s 500 richest individuals, which recorded a massive $271 billion drop on the day—its third-largest single-day decline ever.
This marks the first time Musk’s net worth has fallen below $300 billion since November. His fortune has been significantly impacted by ongoing market volatility and broader economic concerns, including the effects of former President Donald Trump’s tariff policies. Over Thursday and Friday, Musk’s wealth had already dropped by $31 billion, pushing his total losses this year to $134.7 billion.
Tesla shares initially soared after Trump’s election, propelling Musk’s wealth to record highs. However, Musk’s role as a Trump adviser has increasingly made Tesla a target for protests and vandalism both in the U.S. and abroad. His polarizing behavior and controversial social media activity have also alienated potential customers and led some existing Tesla owners to distance themselves from the brand.
Over the weekend, Musk called for a “zero-tariff” agreement between the U.S. and Europe to create a “free-trade zone.” On Monday, his brother Kimbal Musk also criticized the current tariff regime, stating, “Even if jobs are brought back onshore through tariffs, prices will stay high because we’re simply not as efficient at producing everything.”
Tesla shares fell as much as 9.2% to $217.41 on Monday amid a global market selloff, continuing a slide that has wiped 55% off its value since December. The drop follows weak Q1 vehicle deliveries—the lowest since 2022—and growing concerns over brand damage linked to Elon Musk’s political controversies. According to Bloomberg, analysts have slashed Tesla’s sales and earnings forecasts. Commenting on Tesla stock prices, Commerce Secretary Howard Lutnick on Monday even claimed that “it’ll never be this cheap again“
