Elon Musk's fortunes have witnessed a 25% decline since Donald Trump commenced his second term as president.
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Take a gander at this one, folks! Business tycoon, Elon Musk, has seen his wallet dwindle by a whopping $113 billion, making headlines across the nation! According to the fine folks at bloomberg, the reason behind this hefty loss lies in his "chummy" connection with former U.S. President, Donald Trump, and his new role as head of DOGE.
A recent Washington Post-ABC News-Ipsos poll shows that 57% of the population is less than impressed with Musk's moves. The U.S. administration and Congress have also joined the chorus of disapproval.
Sources report that Musk and White House chief of staff, Susan Rice, have a standing date several times a week, with our space-faring magnate keeping Miss Rice folks in the loop about his actions. Despite the cozy chats, Musk's government status remains unaltered, according to another source in the know.
Poor Tesla, the almost-victim of the year, has been bearing the heaviest brunt since the start of 2000 (we mean, 2025). The company's shares have taken a tumble, falling by 33%. This freefall has wiped a staggering $448.3 billion off Tesla's market value since January 17th. To make matters worse, Tesla's net profit dropped a gasp-worthy 71% in the fourth quarter of 2024 and the first quarter of 2025!
Nevertheless, Musk still reigns as the big kahuna on the Billionaire Index, sporting a net worth of $335 billion. Amazon's Jeff Bezos ($209 billion) and Meta's Mark Zuckerberg ($195 billion) are hot on his heels.
Investors are worried that Musk's government involvement may be stealing his focus from Tesla's leadership. Additionally, market turmoil, political controversies, and even attacks on Tesla facilities have all contributed to negative perceptions and market swings. Recent tariff announcements from the White House haven't helped matters either.
Musk's fortune might have taken a beating since Donald Trump's inauguration, but he's still sitting pretty at the top spot. The future of Tesla, however, is murky, with the company's ability to regain investor trust hanging in the balance. But with Musk at the helm, who knows what the future holds? He's a wild card, and we can never underestimate the power of innovation!
Stay tuned for more juicy updates on the life, times, and fortunes of Elon Musk! Want to stay in the loop? Follow our fabulous news channel, @expert_mag! #ElonMusk #wealth
Elon Musk's financial standing has been impacted by his connection with former U.S. President Donald Trump, as political controversies and business decisions have led to a significant loss in his net worth, with many expressing disapproval. The unrest has extended to Tesla, the electric vehicle company he leads, which has seen a decrease in share value and profits, causing concern among investors.
