Elon Musk, CEO of Tesla and SpaceX, has reportedly lost a staggering $100 billion over the past four months, according to the Bloomberg Billionaires Index.
The sharp decline in his net worth is largely attributed to a continued fall in Tesla’s share price, influenced by economic uncertainties and backlash stemming from Musk’s political associations.
On Monday alone, Musk’s fortune took a $4.4 billion hit as Tesla stock dropped by nearly 9%, reducing his total net worth to around $297.8 billion.
This positions Musk as the sixth-largest loser on Bloomberg’s list of the world’s 500 richest individuals. Collectively, the billionaires on the index saw $271 billion wiped off their wealth on the same day.
Market analysts cite weak first-quarter sales, shaken investor confidence, and rising criticism of Musk’s political remarks as major factors behind the downturn. The company is also facing pressure from global tariffs and broader economic instability.
Despite the losses, some financial experts remain hopeful. U.S. Secretary of Commerce Howard Lutnick suggested that Tesla’s stock may now be undervalued, presenting a potential long-term investment opportunity.