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Elon Musk, the world’s richest man and CEO of Tesla and SpaceX, has seen his net worth drop by a staggering $100 billion in just four months, according to information from the Bloomberg Billionaires Index.
The decline is primarily attributed to a significant slump in Tesla’s stock, which has continued to fall amidst ongoing economic uncertainty and backlash tied to Musk’s political affiliations.
The report further added that Musk lost $4.4 billion on Monday alone after Tesla stock dropped by nearly 9 percent, bringing his net worth down to approximately $297.8 billion.
This recent drop makes Musk the sixth-biggest loser on the Bloomberg list of the world’s 500 richest people, all of whom collectively lost $271 billion on that same day.
Analysts point to weak first-quarter deliveries, reduced consumer confidence, and a growing wave of criticism around Musk’s political comments as factors shaking investor faith in Tesla.
The company’s shares have also faced added pressure due to rising tariffs and macroeconomic instability.
Despite the massive financial loss, some experts remain optimistic, with U.S. Secretary of Commerce Howard Lutnick suggesting Tesla stock is now undervalued and could be a strong long-term buy