Elon Musk’s Fortune Takes a Tumble: Now Just a $395 Billion Man!

Elon Musk has officially dropped below the $400 billion club; welcome to the $395 billion brigade! According to the Bloomberg Billionaires Index, Monday marked the first time this year that Musk’s net worth took a tumble below that coveted threshold. Blame it on Tesla stock slipping over 3%—a rough day that went on to lose him more than $7 billion, but who’s counting?

As if that weren’t enough drama, Tesla shares decided to dance another 4% down on Tuesday morning. I guess they really wanted to throw an unexpected party for Musk’s ever-bulging wallet. It was back in December when Musk became the first human to flaunt a $400 billion net worth—thanks, in part, to his buddy Donald Trump’s electoral victory and a flurry of stock excitement!

In fact, Musk was so up for Trump that he coughed up more than $277 million to support his campaign. However, the presidential buddy system didn’t quite translate into green energy support, as Trump came in swinging with executive orders to chop down “unfair subsidies” for electric vehicles on his very first day.

But wait, there’s more! Investors were still like, “Let’s load up on Tesla stock!” hoping Musk’s friendship might smooth over those regulatory bumps. Musk’s forecast of fully autonomous vehicles and a shiny robotaxi service—because who doesn’t want to Uber with a robot?—keeps the masses excited.

And let’s not forget his other prized possession: a hefty slice of SpaceX, which Bloomberg estimates at around 42% ownership. With SpaceX valued nearly at $350 billion, it looks like Musk might have to sell a few Teslas to keep up his billionaire status. But who needs to worry when you’re still clocking in at an astounding $384 billion, right?

Elon Musk’s net worth has slipped below $400 billion for the first time this year, now hovering around $395 billion. This drop is primarily due to a decline in Tesla stock, which accounts for a significant portion of his wealth. Despite this dip, Musk remains a billionaire largely thanks to his stakes in Tesla and SpaceX, and he’s still got a staggering net worth of around $384 billion according to Forbes.