Elon Musk’s net worth: Did US power affect Tesla CEO's fortune?

When Donald Trump sworn in as the President, Elon Musk declared that he is ‘super fired up’ for the future. “One of the most American values that I love is optimism,” the SpaceX and Tesla boss said. But as Trump completed 100 days in the office of his second presidency, Musk has little to do with optimism, especially in terms of his net worth.
Musk's net worth has taken a hit ever since the billionaire was appointed as the head of the Department of Government Efficiency to cut federal departments and agencies. The initial excitement has waned, especially as the American stock market has stumbled, with the S&P 500 and Dow Jones Industrial Average plunging nearly 8%, which is the worst start in 50 years.

Trump’s aggressive tariff policies certainly have impacted the drop, and Elon Musk seems to be poorer than he was on the inauguration day. According to Forbes, the billionaire is $45 billion poorer than he was three months ago. Currently, Musk's net worth stands at $386.5 billion. Bloomberg Billionaires Index suggests that the Tesla boss has $335 billion in his name. Fortune notes that Musk's net worth has fallen approximately $113 billion since Donald Trump's return to office. This accounts for a 25 percent drop in Musk's net worth.


The Tesla CEO, who declared that “This is what victory feels like” on Inauguration Day, has seen his fortune battered due to a combination of market volatility and the fallout from his own political entanglements. Musk, who has cofounded seven companies, including electric car maker Tesla, rocket producer SpaceX, and artificial intelligence startup xAI, has taken the hit. His electric car company, Tesla, saw its stock come crashing down by 33%. Musk recently expressed that he will be focusing more on Tesla. During a meeting with the investors, he stated that he will be spending more time with the company. "I think starting probably next month, May, my time allocation to DOGE will drop significantly," he said last month.

"Now that the major work of establishing DOGE is done, I will be allocating far more of my time to Tesla starting in May. I now expect to spend just a day or two per week on government matters," he added.

Meanwhile, Elon Musk isn’t the only billionaire who has had financial woes. Amazon founder Jeff Bezos has lost $35 billion, Alphabet’s Sergey Brin is down $26 billion, and Meta’s Mark Zuckerberg has seen $22 billion evaporate from his fortune. Trump ally Larry Ellison of Oracle, who discussed a $500 billion AI infrastructure initiative with the president, has lost $28 billion, making him the third-biggest loser behind Musk and Bezos.