07/03/2025
Elon Musk saw his wealth take another hit Tuesday as Tesla stock fell over 5% in possible reaction to a battle between the billionaire and President Donald Trump.
Musk's criticism of the Trump-supported "Big Beautiful Bill" could ultimately harm Tesla stocks and prompt the White House to investigate subsidies for several Musk-related companies.
Musk remains the world's richest man, worth an estimated $397 billion, but his roles in politics over the last year have often made his net worth and the price of Tesla stock volatile.
Musk's wealth fell $12 billion on Tuesday, according to a report from Forbes. The billionaire's wealth figure is calculated from his various company interests, which include owning around 12% of Tesla stock, around 42% of SpaceX, and around 54% of xAI.
Tesla stock hit a new three-week low on Tuesday, and despite several recent catalysts like robotaxis in Texas, Musk being engaged in a political war with Trump could have investors heading to the sidelines.
Musk's wealth hit over $400 billion in late 2024 on optimism from the 2024 presidential election win by Trump. Months later, Tesla stock and Musk's wealth fell as his time commitment away from the electric vehicle giant weighed on the stock, and his time dedicated to politics led to boycotts against the auto brand.
While Musk's wealth has fallen significantly in 2025, he remains well ahead of the other billionaires on the list.
In fact, in the battle of Musk vs. Trump, the Tesla CEO is worth 77 times more than the president, based on estimates from Forbes.
Trump's wealth is estimated at $5.1 billion, ranking as the 739th richest person in the world and 738 places behind Musk.
