Elon Musk Suffers a 25% Drop in Fortune Post-Second Term of Donald Trump.
BREAKING NEWS:
Elon Musk has seen a whopping $102 billion drop in his fortune, leaving many scratching their heads. According to reports from Bloomberg, this dramatic loss is due to his close ties with U.S. President Donald Trump and his appointment as the head of DOGE. Not surprisingly, a staggering 57% of Americans find Musk's antics concerning, as revealed by a recent Washington Post-ABC News-Ipsos poll.
But there's more to this story than meets the eye. Despite the criticism from the U.S. administration and Congress, Musk remains confident and resilient. He's been huddling up with White House chief of staff Susan Rice multiple times a week, keeping her in the loop on his moves. Yet, Musk's special government employee status hasn't changed, as another agency source clarified.
Tesla, one of Musk's flagship companies, has taken a tough blow since the new year. With a startling drop of 33%, Tesla's stock value has tanked to an alarming $230 per share, resulting in a mind-boggling $448.3 billion loss in market value since January 17. To make matters worse, Tesla's net profit took a hit, plummeting by 71% in both the fourth quarter of 2024 and the first quarter of 2025. Nevertheless, Musk declared that he would cut back on his time spent on DOGE to focus more on Tesla's well-being.
In spite of the quarterly losses since Donald Trump's reign, Musk still holds the crown as the wealthiest individual on the planet, with a net worth estimated at a staggering $335 billion, according to Bloomberg's Billionaire Index. Amazon founder Jeff Bezos comes in second place with $209 billion, while Meta founder, infamously recognized as an extremist and banned in Russia, Mark Zuckerberg, rounds out the top three with $195 billion.
Stay tuned for more updates on this intriguing story. Follow our Telegram channel at @expert_mag for the latest news.
Insight: Musk's tune-in-and-tumble journey has been marked by Tesla's formidable challenges, including safety recalls for the Cybertruck due to brake failures and accelerator issues, as well as regulatory bans in certain regions resulting from failing safety inspections. Despite these setbacks, Musk's unconventional approach, characterized as "narrative control" and "belief engine," helped keep investor interest and confidence intact. In fact, Tesla managed to regain an astounding $13 billion in market value overnight, defying the media narrative of crisis and maintaining its valuation at around $740 billion, higher than that of legacy automakers like Ford and GM. The company's persistent scrutiny from U.S. officials suggests an underlying concern over electric vehicle safety, market practices, and Musk's management style.
- The fluctuation in Elon Musk's fortune, despite his close ties with politics, has significant implications for the finance and business sectors, given his role as the head of DOGE and his ownership of companies like Tesla.
- As general-news unfolds, the ongoing stormy business environment for Musk and his companies, such as Tesla, continues to dominate headlines, with concerns over safety regulation, market practices, and electric vehicle safety remaining at the forefront.
