Elon Musk has experienced a significant 25% decrease in his wealth upon the commencement of Donald Trump's second term.
Article Rewrite
Elon Musk's alliance with U.S. President Donald Trump has been a rollercoaster ride for the billionaire, with a substantial drop in his wealth. Bloomberg explains his staggering $113 billion loss as a consequence of his presidential appointment as the head of DOGE, an action that displeased 57% of Americans, according to a Washington Post-ABC News-Ipsos poll.
Lately, Musk's work has drawn criticism from the U.S. administration and Congress, and he's been sitting down with White House chief of staff Susan Walsh several times a week to keep her in the loop of his activities. Despite being a special government employee, his role hasn't altered, another agency source confirmed.
Tesla, one of Musk's beloved ventures, has faced the most heat since the beginning of the year. The company's stock slumped by 33%, with Tesla shedding $448.3 billion in market value since January 17. Tesla's net profit dived by 71% in both the fourth quarter of 2024 and the first quarter of 2025. Musk admitted to a "pullback" during his time in government and assured to reduce his focus on DOGE.
Nevertheless, despite the massive reduction in his assets since Donald Trump's inauguration, Musk continues to lead the pack as the globe's wealthiest man, according to Bloomberg's Billionaire Index, with his net worth estimated at $335 billion. Amazon founder Jeff Bezos ($209 billion) and Meta founder Mark Zuckerberg ($195 billion) trail behind him, although Zuckerberg is infamous as an extremist and is banned in Russia.
In the broader picture, Musk’s political alignment with President Trump has introduced both opportunities and risks to his business interests, although direct monetary effects on his net worth remain unclear from existing reports. The relationship is dynamic, with Trump hopeful that Musk's team "will stay around for the long haul."
Why not check out our Telegram channel @expert_mag for more juicy news!
Tags: #Elon Musk, #wealth
- Elon Musk's financial decrease, amounting to $113 billion as reported by Bloomberg, was a confirmed result of his appointment as the head of DOGE, an action that received disapproval from 57% of Americans, as per a Washington Post-ABC News-Ipsos poll.
- Musk's meeting with White House chief of staff Susan Walsh multiple times a week is an attempt to maintain transparency about his activities, despite facing criticism from the U.S. administration and Congress regarding his role.
- Tesla, one of Musk's cherished ventures, has faced a significant slump, with a 33% drop in the company's stock and a loss of $448.3 billion in market value since January 17, 2025.
- Despite the decreasing worth of his assets, Musk continues to top Bloomberg's Billionaire Index as the wealthiest man in the world, with a net worth of $335 billion.
- Musk's political alliance with President Trump presents both opportunities and risks to his business interests, albeit the direct monetary effects on his net worth remain unclear from existing reports.
