Elon Musk faced a major financial setback as Tesla’s stock dropped by 14% on Thursday, causing the company to lose around $150 billion in market value. As a result, Musk’s personal net worth went down by $27 billion in just one day.
This big drop came after a very public disagreement between Musk and former U.S. President Donald Trump. Their clash grew more serious when Trump threatened to cancel government contracts with Musk’s companies, adding pressure to an already tense situation.
Even though the market reacted strongly, Tesla’s stock managed to recover a little after regular trading hours, rising by 0.8%. Still, the earlier loss was a heavy blow to Musk’s wealth and to Tesla investors.
Despite the sudden loss, Elon Musk remains the richest person in the world. According to the latest Forbes Billionaires List, he is still at the top with a fortune of $388 billion.
He is far ahead of others on the list, including Meta founder Mark Zuckerberg, who is worth $236 billion, and Donald Trump, whose net worth is estimated at $5.4 billion.
This recent event shows how sensitive the stock market can be to political tensions and public statements, especially when they involve well-known figures like Musk and Trump.
It also highlights how much Musk’s personal wealth depends on Tesla’s stock performance. While the situation may change in the coming days, for now, Musk and his companies are under close watch from investors, analysts, and political observers alike.
American Dollar Exchange Rate