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.
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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.
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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
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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.
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Elon is one of the most hated person on this planet
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