Elon Musk's net worth drops following significant Tesla share decline

Tesla's shares drop sharply following Musk's controversial political move amidst his feud with Trump.

Elon Musk loses $15 billion as Tesla shares decline after America Party launch

Elon Musk has lost $15 billion in net worth as Tesla's shares fell 7% following the launch of his America Party. The decline represents a loss of around $21 per share, reflecting ongoing tensions between Musk and former ally Donald Trump. This change follows a year of significant volatility for Tesla's stock, which has decreased by 31.8% since January. As of now, Musk remains the richest person in the world with a total worth of $346 billion, despite a $86.7 billion drop in his net worth this year. The falling shares are compounded by lower vehicle deliveries and Trump's threats to cut federal subsidies, which could further impact Musk's businesses.

The recent decline of Tesla shares showcases the volatile intersection of business and politics. Musk's new political alignment has created friction not only with Trump but also among investors who may worry about government support for Tesla. As Musk navigates this complicated landscape, the risk of losing public favor could deepen financial challenges for Tesla. The question remains whether his political ambitions will pay off, or if they will lead to further declines in influence and finances.

Highlights

Musk's future in both business and politics remains uncertain as tensions rise.