Sun Mar 09 06:10:00 UTC 2025: ## Tesla Slump Wipes Billions Off Musk’s Net Worth Amidst Trump Tariff Fallout
**NEW YORK** – Elon Musk, the world’s richest man, experienced a significant blow to his net worth Thursday, as Tesla stock plummeted amidst market anxieties spurred by President Trump’s tariffs. Forbes estimates Musk’s net worth fell by $8.8 billion, bringing his total to $342.8 billion. This represents a staggering $121.2 billion drop from its peak of $464 billion reached in December.
The decline in Tesla’s share price, down 6% to just above $263, mirrors a broader market downturn triggered by Trump’s tariffs on Canada, China, and Mexico. Tesla’s stock is now at its lowest point since Election Day. The company’s heavy reliance on imports from these countries, particularly for its crucial Chinese market, makes it especially vulnerable to the increased costs.
Tesla CFO Vaibhav Taneja previously warned that tariffs would impact the company’s profitability. Analyst Ben Kallo of Baird further noted that Musk’s close ties to the Trump administration, including his unofficial role as head of the Department of Government Efficiency (DOGE), could also be influencing investor sentiment.
Despite the substantial loss, Musk remains comfortably the world’s wealthiest person, exceeding the net worth of Mark Zuckerberg by over $120 billion. While Tesla’s stock is still up 4.8% since Election Day, it’s a far cry from the 91% surge seen before December. This initial post-election rally was fueled by speculation that Musk’s significant political donations would translate into regulatory benefits for Tesla. Musk’s overall wealth remains significantly higher than pre-election levels, partly due to the increased valuations of his other ventures, SpaceX and xAI.
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