Elon Musk’s Net Worth Plummets By $144 Billion Since Election As Tesla Stock Drops 50%

Alessio AtriaMarch 13, 2025, 6:27 pmNews >

Tesla’s stock has fallen by more than 50%, while its CEO, Elon Musk‘s net worth has dropped by $144.4 billion since the election.

On March 10, Tesla shares declined by over 14% by the middle of the day after UBS cut its forecast for the carmaker’s first-quarter deliveries and 15.43% once the markets closed, according to FactSet Data, making it Tesla’s worst day since September 2020.

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Individual shares were down by over $40, with journalist Yashar Ali noting that for every $10 the stock was down, Musk’s net worth declined by nearly $4.7 billion, adding up to $18.8 billion.

Tesla stock is down over 51% from its all-time high, which was set in December 2024.

Traders predicted that the Tesla CEO’s close connection with President Donald Trump would help reduce regulation.

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Musk’s frequent political and social media posts and his association with the controversial Department of Government Efficiency (DOGE) affect Tesla’s brand in the U.S. and Europe.

Across the U.S., Tesla facilities and individual owners reported seeing an increase in vandalism and arson attempts against their vehicles.

Incidents have happened at a Tesla store and service center in Loveland, Colorado, the most recent of which occurred on Friday.

The latest calculations from Forbes revealed that Musk’s net worth dropped by $144.4 billion. This is dramatically lower than his $465 billion set in December 2024, leaving his net worth at $319.6 billion.

His net worth and Tesla’s stock price increased after Trump won the 2024 presidential election.

According to the Bloomberg Billionaires Index, as of December 17, 2024, Musk’s net worth doubled to $486 billion following the president’s victory in last year’s election.

The carmaker’s stock hit a record high of $479.86 per share on the same day as investors bet on the positive impact that Musk’s influence on the president may have on the industry.

Musk’s financial decline is mostly due to Tesla’s terrible stock performance.

According to Investopedia, Musk owns nearly 13% of the company, which has experienced poor global sales, intensified competition from Chinese manufacturers and missed revenue expectations in its most recent earnings report.