Elon Musk's Net Worth Falls Below $300 Billion as Tesla Shares Plunge
April 9, 2025 – Elon Musk's net worth has dropped below $300 billion for the first time since November, as Tesla Inc.’s stock continues its downward spiral. On Monday alone, Musk lost $4.4 billion, bringing his year-to-date loss to $134.7 billion, according to the Bloomberg Billionaires Index.
Tesla’s slump was a key contributor to the $271 billion drop in the overall Bloomberg Billionaires Index on Monday—the third-largest one-day loss in the index’s history. Musk was the sixth-largest individual loser among the world’s top 500 richest people.
What’s Fueling the Decline?
1. Trump-Era Tariffs Bite Back: Tesla has been hit hard by the aftershocks of U.S. President Donald Trump’s sweeping tariffs, particularly in Europe and Asia. The trade restrictions have not only increased production and shipping costs but have also triggered protests and vandalism targeting Tesla.
2. Market Sentiment and Musk’s Persona: Tesla stock is down over 50% since its December peak, with analysts pointing to Musk’s controversial public image and polarizing social media activity as factors alienating both consumers and investors.
Musk Family Pushes for Tariff Reform
In response to the economic turbulence, Elon Musk has called for a “zero-tariff” trade agreement between the U.S. and Europe, envisioning a true transatlantic free-trade zone.
His brother Kimbal Musk, also a Tesla board member, labeled current tariffs a “permanent tax on the American consumer.” He argued that even if tariffs bring manufacturing back home, it will come with higher prices due to inefficiencies and cost pressures in U.S. production.