Elon Musk's net worth has fallen below $300 billion, a dramatic

Elon Musk's net worth has fallen below $300 billion, a dramatic shift from over $400 billion just three months ago. This decline has been driven by the slump in Tesla's stock, influenced by market volatility, economic uncertainties related to Trump's tariffs, and Musk's controversial decisions.

Weak vehicle deliveries in Q1 and reputational damage due to Musk's political actions have further depressed Tesla's value. According to the Bloomberg Billionaires Index, Musk has now become the sixth-largest wealth loser after a drop of $4.4 billion, landing his total net worth at $297.8 billion. This is the first time his wealth has fallen below $300 billion since November. Market instability and broader economic issues, including the impact of Trump's tariff policies, have significantly affected his fortune. Just last week, Musk's wealth tumbled by $31 billion, compounding his total losses for the year to $134.7 billion. Tesla shares initially surged following Trump's election, driving Musk's wealth to unprecedented heights. However, Musk's association with Trump has turned Tesla into a target for protests and vandalism in both the U.S. and internationally. His polarizing actions and controversial social media presence have also alienated potential buyers and caused some current Tesla owners to reconsider their association with the brand. Over the weekend, Musk advocated for a "zero-tariff" trade agreement between the U.S. and Europe to establish a "free-trade zone." On Monday, his brother, Kimbal Musk, criticized the existing tariff framework, noting that even if jobs were moved back to the U.S. due to tariffs, prices would remain high as domestic production isn't as efficient. On Monday, amid a global market downturn, Tesla shares plummeted by as much as 9.2% to $217.41, marking a 55% decline since December.

This drop comes in light of disappointing Q1 vehicle deliveries—the lowest figures since 2022—and escalating concerns regarding brand damage from Musk's political controversies. Analysts have revised down Tesla's sales and earnings forecasts, with Commerce Secretary Howard Lutnick remarking that "it'll never be this cheap again" regarding Tesla stock prices.