Elon Musk's Wealth Declines Below $300 Billion For First Time Since November 2024
According to the Bloomberg Billionaire Index, Elon Musk lost $4.4 billion on Monday as Tesla's stocks declined amid global market crash. It led to a fall in Musk's net worth to $297.8 billion.
Elon Musk, the CEO of Tesla and a close aide of Donald Trump, has seen his net worth decline below $300 billion for the first time since November 2024 even as the US president has imposed tariffs across the nations hitting even those closest to him.
The global stock markets, included the US, on Monday saw a huge decline wiping out trillions of dollars of investors’ wealth across the world.
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As a result, according to the Bloomberg Billionaire Index, Elon Musk lost $4.4 billion on Monday as Tesla’s stocks declined amid the global market crash. Last week on Thursday and Friday, his wealth eroded by $31 billion after the tariff announcement by Trump. It led to a fall in Musk’s net worth to $297.8 billion.
In 2025, Musk has lost nearly $134.7 billion.
On Monday, April 7, Musk was the sixth biggest loser on Bloomberg’s list of the world’s 500 richest people. Overall, the index fell $271 billion — its third-worst day ever.
The global stock markets crashed on Monday as China responded on Friday with its own retaliatory tariffs of 34% on US product thus rising US recession fears dampening global sentiment.
According to reports, Tesla CEO and Department of Government Efficiency (DOGE) chief Elon Musk personally requested US President Donald Trump to reverse sweeping new tariffs, it was reported.
Elon Musk publicly voiced his opposition after Donald Trump threatened to slap a 50 per cent tariff on goods from China but he also made direct appeals to the US President to scale back on the measures, The Washington Post reported.
Elon Musk had direct talks with Trump, trying to stop the aggressive tariffs but his attempts haven’t been successful, the report added.
This comes as Donald Trump said he would impose 50 per cent tariffs on Chinese goods which will be over and above the 34 percent already announced.
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