Elon Musk’s wealth tanks by $102 billion in 2 months as Tesla stock hits the skids
Elon Musk
‘s net worth has tumbled by $102 billion this year following a sharp decline in Tesla stock. That figure is about the same as the United Parcel Service’s entire market value.
The
Tesla
and
SpaceX
CEO’s wealth has shrunk by about 24% in under 10 weeks to $330 billion at Thursday’s close, according to the Bloomberg Billionaires Index.
Musk is still comfortably the world’s richest person, with a roughly $108 billion lead over second-place
Jeff Bezos
, despite being the biggest wealth loser this year. He’s well ahead of
Michael Dell
, whose net worth is down $20 billion.
Musk’s fortune has been hit by a 35% plunge in Tesla’s share price this year, from about $404 to $263. The sell-off has cut its market value by more than $400 billion to under $900 billion.
Investors have dumped the automaker’s stock for several reasons. Musk spent more than $250 million to help
Donald Trump
get reelected, stumped at the Republican candidate’s rallies, and marshaled his X followers to vote for Trump in November’s election.
The tech billionaire has remained a close advisor since Trump’s victory, spearheading efforts to streamline federal spending with his White House
DOGE
office.
The combination of his
divisive politics
, concerns about his new role distracting from his CEO duties, and reports of Tesla
sales declines
in several countries have weighed on the company’s shares.
Several other members of the
$100 billion club
have taken a hit to their fortunes from the recent slump in stocks, which has been fueled by worries that Trump’s tariffs and government cuts will cool economic growth or even
cause a recession
.
Oracle’s
Larry Ellison
has had $19 billion wiped off his wealth, reducing it to $173 billion. Similarly, Nvidia’s Jensen Huang and Amazon’s Bezos have each had about $17 billion erased from their respective net worths this year.
Bezos is now tied with Meta founder
Mark Zuckerberg
on $222 billion; Zuckerberg has added $14 billion to his wealth in 2025, while the Amazon founder has shed almost $17 billion.
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Business Insider
