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.
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’