Summary
Elon Musk’s net worth has dropped by $110.8 billion since its peak in December 2024, largely due to Tesla’s stock decline following Donald Trump’s new tariffs on Canada, Mexico, and China.
However, his close ties to Trump and influence over government contracts, including Starlink deals, may help him recover.
He’s not focused on that. He’s helping his bro dismantle the checks and balances so he can make trillions more in government contracts and corporate tax cuts. He’s more focused on robbing the American taxpayers than some dumb little car company.
My theory is that he’s always known Tesla was massively overvalued and it was only a matter of time before the company’s stock started correcting towards a more realistic value for the amount of profit it actually generates. As such, he needed to take drastic action(s) to find other gold mines for him to exploit to retain his wealth base.
Unpopular opinion:
“Poorer” is never a word that need be used to describe any economic downturn associated with a billionaire’s finances.
“Drop in net worth” is great because one can post the pre/post net worth so we can see that they are in no way poor, even if “poorer” is technically a usable word.
Barring personal disaster, they will never be poor.
I kind of appreciate the juxtaposition of ‘100 billion dollars’ and ‘poor’
Tesla is a sinking ship and Musk knows it. It’s incompatible with his personal beliefs and its customer base are the enemy. I think the goal here is to drain as much value as he can, shore up his wealth via other means and abandon the brand entirely - probably while blaming liberals and protestors etc.
Is it known if he’s selling down yet?!
He violated SEC rules when he bought up Twitter stock, I wouldn’t be shocked if he was selling off positions without reporting it. Who’s going to enforce the laws/rules against him?
I’d much rather he lose his head than lose a single dollar.
Why not both?
Oh, how will he ever live though? 🙄
It’s not about money, it’s all about ego.
