Elon Musk is now $111 billion poorer, thanks to his best bro Donald Trump’s tariffs
Elon Musk is now $111 billion poorer, thanks to his best bro Donald Trump’s tariffs
It’s essentially pocket change to the world’s richest man.
Summary
Elon Musk's net worth has dropped by $110.8 billion since its peak in December 2024, largely due to Tesla’s stock decline following Donald Trump’s new tariffs on Canada, Mexico, and China.
However, his close ties to Trump and influence over government contracts, including Starlink deals, may help him recover.
More. MORE!
That's a good start. There's still a long way to go, though.
Tesla is a sinking ship and Musk knows it. It’s incompatible with his personal beliefs and its customer base are the enemy. I think the goal here is to drain as much value as he can, shore up his wealth via other means and abandon the brand entirely - probably while blaming liberals and protestors etc.
Is it known if he's selling down yet?!
He violated SEC rules when he bought up Twitter stock, I wouldn't be shocked if he was selling off positions without reporting it. Who's going to enforce the laws/rules against him?
Unpopular opinion:
“Poorer” is never a word that need be used to describe any economic downturn associated with a billionaire’s finances.
“Drop in net worth” is great because one can post the pre/post net worth so we can see that they are in no way poor, even if “poorer” is technically a usable word.
Barring personal disaster, they will never be poor.
I kind of appreciate the juxtaposition of '100 billion dollars' and 'poor'
Barring personal disaster, they will never be poor.
I'm trying to think what personal disaster could possibly happen to render Elon poor. I feel like a new administration could come in, declare him a traitor, cease all his assets, and he still wouldn't be poor. Once you've got that kind of money, I'm sure you have millions squirreled away here and there.
Thankfully, the dead can't hold assets.
Once you’ve got that kind of money, I’m sure you have millions squirreled away here and there.
That's kind of right. He likely has liquid funds stuffed away in all kinds of places, possibly in different currencies on different continents. The only way to put someone like this in the poorhouse is to bankrupt every single one of his investments, while simultaneously freezing all his funds internationally.
From a finance perspective, a billionaire is a few orders of magnitude beyond "escape velocity" from ever being poor. I think most of us would need a few tens-of-millions USD in cash to even consider achieving such a thing.
Another way to look at it is that the billions in "net worth" he has accumulated are just ablative armor for real spendable wealth. Consider the move he made with Twitter: the objective was controlling the platform and discourse on it, full stop. Losing tens of billions didn't matter - it wasn't real money in the first place (mostly stock) and wasn't spendable in the conventional sense. DOGE is a similar play in that the kinds of unfair advantages being gained are worth at least what he's losing.
He’s not focused on that. He’s helping his bro dismantle the checks and balances so he can make trillions more in government contracts and corporate tax cuts. He’s more focused on robbing the American taxpayers than some dumb little car company.
My theory is that he's always known Tesla was massively overvalued and it was only a matter of time before the company's stock started correcting towards a more realistic value for the amount of profit it actually generates. As such, he needed to take drastic action(s) to find other gold mines for him to exploit to retain his wealth base.
Emerald mines
he largely abandoned tesla since like 2022, i believe. he was focused on getting that 56bn payout by tesla and bounced.
I'd much rather he lose his head than lose a single dollar.
We can only hope they bring that punishment option back when the Nuremberg style trials happen for these traitors.
Why not both?
More... more!!! Kylo meme here
Bankrupt the Nazi traitor. (Not all conservatives are Nazis. I single out Elon specifically)
I don't.
True
Consider it an expenditure to secure the american market. As in, the America.
“Everything Trump touches dies.” Look it up.
King trump's curse.
King Mierdas.
He pretty literally holds the purse of the federal government, so I'm not sure 111 Billion matters much any more.
Lazy articles like this drive me crazy. It's not "largely due to tariffs." It started before Trump was even in office! It's because Musk's brand is finally toxic enough that no one is buying Teslas anymore.
Sales are cratering everywhere. Australia down by over 70%. Europe and China down by 50%. US data seems to be somewhere between a 10-30% drop.
Wasn't this actually due to the worsening EV sales which were worst for Tesla? Probably because people don't like him and associate him with it.
Edit: data for ev sales is still going up but its specifically lower for tesla.
All the numbers I've seen say EV sales are increasing. Newsweek reported that despite increasing year over year sales numbers for EVs, Telsa is experiencing reduced yoy sales figures. Some examples:
- Europe in general saw a 34% YoY increase in EV sales, but a 45% decrease for Tesla.
- Germany reported a staggering 76% decline in that year.
- Spain saw similar declines.
- China saw a 49% decrease YoY for Tesla, and a staggering 161% increase for local company BYD. While some of this wasdue to a production shutdown for Tesla in Shanghai, still, EVs are booming in China but Tesla isn't.
Newsweek claimed that there was a downturn in EVs in Australia, but instead of telling us 'sales of EVs dipped x% YoY', they go with a more crappier message that EVs represented a smaller proportion of cars this year compared to last year, which is of course useless without knowing how many cars overall were sold.
After trump won tesla stock shot up like a hundred dollars because everyone thought elon would leverage the win into more money but now people don't think that's the case so it's going back to where it was before the election
Elon is one of the most hated person on this planet
Please look at the 12, 24 and 60 months chart : i will be happy when TSLA is 30% or more below the price it was when he completed the Twitter buyout. Also some of his mission critical money is under non publicity traded companies: the space stuff that will get government contracts. Letting Tesla suffer is good theatre.
The valuation of the stock market is fake anyways. (ESPECIALLY bubble stocks like tsla) This sadly doesn't affect his lifestyle or the power he yields in any way.
He won't care. He's got the availability of the US tax funds now.
Oh, how will he ever live though? 🙄
It's not about money, it's all about ego.
As long as he's richer than everyone else, it doesn't matter how poor he is.
Will nobody help this poor man?
The tragedy of poverty...
I don't understand everyone's surprise, or disgust, or whatever reaction to Starlink & government relations. Like they should be entirely separate all the time & how dare they benefit each other. Has it ever occurred to anyone that a very strong, US-based & ran, worldwide operated internet would very much be in the favor of the United States?? 🤔 No, just me?
For years, before you all hated Musk, I have considered Starlink & the US interests to be one in the same. It is only natural that US collaborates with Starlink. I'm relatively confident the US government has worked on, refined Starlink for Musk & Starlink team. I mean why not? I'm also sure there are plenty of strings attached to the monies & tax breaks given, like the US government owns their ass. Wasn't Starlink access basically used as a weapon at one point in the Russia-Ukraine war? Starlink is shield & weapon, the raw power of the internet, exclusively owned & operated by US government & allies.
It just always amuses me when people say, "And Starlink is getting deals from the government!"...Yeah? Duh?? With what uses I outlined above, I find it hard to believe they wouldn't get deals.
This is such an unbelievably bad take.
First, Musk has always been a tool, a nepo baby, and an asshole. Just because American liberals only recently noticed this doesn't mean he used to be great.
Second, this isn't the case of Starlink being State owned and controlled, it's the case of the State being Starlink owned and controlled. That's what was happening in Ukraine and what will continue to happen. If you think for a second that Musk is beholden to anything or anybody I've got a rusty polygon ridden death trap to sell you.