Elon Musk's wealth tanks by $102 billion in 2 months as Tesla stock hits the skids

• Elon Musk’s net worth has tumbled by $102 billion this year due to a plunge in Tesla stock.

• The Tesla and SpaceX CEO’s wealth has dropped about 24% to $330 billion.

• Tesla stock has been hit by sales declines, political aversion to Musk, and distraction concerns.

Elon Musk’s net worth has tumbled by $102 billion this year following a sharp decline in Tesla stock. That figure is about the same as the United Parcel Service’s entire market value.

The Tesla and SpaceX CEO’s wealth has shrunk by about 24% in under 10 weeks to $330 billion at Thursday’s close, per the Bloomberg Billionaires Index.

Musk is still comfortably the world’s richest person, with a roughly $108 billion lead over second-place Jeff Bezos, despite being the biggest wealth loser this year. He’s well ahead of runner-up Michael Dell, whose net worth is down $20 billion.

Musk’s fortune has been hit by a 35% plunge in Tesla’s share price this year, from about $404 to $263. The sell-off has cut its market value by more than $400 billion to under $900 billion.

Investors have dumped the automaker’s stock for several reasons. Musk spent over $250 million to help President Donald Trump reelected, stumped at the Republican candidate’s rallies, and marshaled his X followers to vote for Trump in November’s election.

The tech billionaire has remained a close advisor since Trump’s victory, spearheading efforts to streamline federal spending with his Department of Government Efficiency, or DOGE.

The combination of his divisive politics, concerns about his new role distracting from his CEO duties, and reports of Tesla sales declines in several countries have weighed on the company’s shares.

Several other members of the $100 billion club have taken a hit to their fortunes from the recent slump in stocks, which has been fueled by worries that Trump’s tariffs and government cuts will cool economic growth or even cause a recession.

Oracle’s Larry Ellison has had $19 billion wiped off his wealth, reducing it to $173 billion. Similarly, Nvidia’s Jensen Huang and Amazon’s Bezos have each had about $17 billion erased from their respective net worths this year.

Bezos is now tied with Meta founder Mark Zuckerberg on $222 billion, who has added $14 billion to his wealth in 2025, while the Amazon founder has shed almost $17 billion.

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