Elon Musk's Net Worth Dives Below $300 Billion For The First Time Since November Amid Tesla Attacks And Tariff Woes

Benzinga
2025.04.08 10:06
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Elon Musk's net worth has fallen below $300 billion for the first time since November, primarily due to Tesla's declining stock price and new tariffs imposed by the Trump administration. As of Monday, Musk's wealth was reported at $298 billion, a decrease of nearly $135 billion or 31% since the start of the year. The tariffs, including a 10% charge on imports and a 25% levy on foreign cars, have significantly impacted Tesla's stock, which dropped 10% recently, contributing to Musk's financial losses.

Elon Musk, the CEO ofTesla Inc.TSLA, has seen his net worth plunge below the $300 billion mark. This significant decrease is linked to the ongoing backlash against Tesla and the implementation of new tariffs.

What Happened: Musk’s net worth dippedbelow $300 billion on Monday, a level not seen since last year. The Bloomberg Billionaires Index indicated that Musk’s wealth was $298 billion at Monday’s market close. His net worth has shrunk by nearly $135 billion, or 31%, since the beginning of the year.

Musk’s net worth last exceeded $400 billion in December, making him the first person to achieve this feat. His wealth hadn’tgone below $300 billion sinceNovember. The decline in Musk’s wealth is primarily due to Tesla’s falling share price, which has declined almost40% in 2025. Musk andTesla have been under intense scrutiny due to Musk’s advisory roleto President Donald Trump, especiallyin the administration’s push for government efficiency through the DOGE office.

SEE ALSO:Chamath Palihapitiya Warns Fed And Trump May No Longer Rescue Markets As Bottom 50% Of Americans Have ‘Zero Interest’ In Stocks

Why It Matters: The recently announced tariffs by the Trump administration, which have rattled financial markets, also impacted Musk and Tesla’s wealth. Despite his allegiance to Trump, Musk has publicly expressed his opposition to these tariffs. The billionaire even criticized Trump advisor Peter Navarro over his tariff decisions.

The imposition of new tariffs by President Trump, including a 10% charge on all imported goods and a 25% levy on foreign automobiles, led to a 10% plunge in Tesla’s stock on Friday, erasing $11 billion from Musk’s net worth. Since the declaration of tariffs on Apr 2 the Tesla CEO has lost nearly 10.5% of his net worth.

Furthermore, the tariff turmoil sent shockwaves through global markets, causing the fortunes of other billionaires besides Elon Musk, like Amazon.com, Inc.’s AMZN Jeff Bezos, and Meta Platforms, Inc.’s META Mark Zuckerberg to plummet, while legendary investor Warren Buffett remained resilient with a $12.7 billion year-to-date gain.

Over the past 5 days, Tesla stock has lost 11.5%, but over the past month, the shares climbed 5%.

  • READ MORE: Did Trump Team Manipulate Tariff Formula To Achieve Higher Rates? Experts Weigh In As They Think ‘Whole Thing Was Rigged’

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