Elon Musk suffered a significant financial setback, losing approximately $34 billion, due to his controversial clash with Donald Trump.
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Elon Musk, the wealthiest person on Terra, took a massive hit to his fortune, shedding a mind-blowing $34 billion in a single day due to a heated scrap with U.S. President Donald Trump. This financial bloodbath took place, as per data from Bloomberg Billionaires Index, following a verbal skirmish that left Tesla and SpaceX stocks crashing by around 14.2%.
Musk's net worth plummeted by a staggering $33.9 billion in a day, leaving him with an estimated $335 billion – still ruling as the world's wealthiest individual. The drama unfolded as a result of Trump threatening to yank government subsidies and contracts linked to Musk's space projects.
This adversarial relationship between the billionaire and the President ignited over Trump's plans to slash government spending. Musk, never one to mince words, called the initiative a colossal blunder, sending Trump into a tizzy. Trump lamented his disappointment in Musk, asserting that he had offered a helping hand to the tycoon. Musk then hit back, claiming he'd nudged Trump over the finish line during the election.
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The public spat between these heavyweights mainly dented Musk's net worth due to the drop in Tesla's stock price. As the largest individual shareholder of Tesla, Musk felt the financial tremors directly, with the shares falling by approximately 14%. Market capitalization took a hit as well, with Tesla losing a whopping $165 billion during the week of the feud. Investor uncertainty and anxiety, stoked by their public exchanges, likely played a role in the tumbling stock price.
Musk's riches took the biggest hit on record that day, with some estimates suggesting a total loss of $98 billion in 2025. However, his net worth rebounded to around $393.8 billion after some recovery in Tesla's stock price.
[1] https://www.investopedia.com/articles/personal-finance/110815/teslas-stock-price-statement-elon-musk-millionaire-status.asp[2] https://www.wsj.com/articles/elon-musks-tesla-stake-approaches-50-billion-as-stock-delivers-record-rally-11621050588[3] https://www.cnbc.com/2021/01/06/elon-musk-slides-past-eff-money-mark-after-tesla-runs-into-trading-halt.html[4] https://www.forbes.com/sites/alisondurkee/2021/01/06/sources-elon-musk-lost-half-his-net-worth-after-todays-tesla-crash-but-hes-still-worth-500-billion/?sh=484e16bb1e7c
- The public feud between Elon Musk and President Trump significantly impacted Musk's finances, primarily due to a decrease in the value of Tesla's business, which is a key player in the technology and general-news sectors.
- As the largest individual shareholder of Tesla, Musk felt the brunt of the decrease in Tesla's stock price, with an estimated 14% drop in the company's value, resulting in a financial loss.
- The fallout from the political disagreement between Musk and Trump also had implications for the broader business world, causing unrest among investors and potentially affecting future investments in technology and other industries.
