This was the worst quarter since 2022 for Tesla, as the company’s market cap also fell by $460 billion.
This all comes as Musk’s far-right antics and DOGE’s hostile government takeover have (unsurprisingly) become synonymous with the prominent EV company he is in charge of. It might finally be catching up to him—and his pockets. The world’s richest man has lost over $100 billion from his own personal net worth since December.
It’s also been reported that Musk may be stepping away from the Trump administration, a possible clue into just how urgent his business struggles are. But what “stepping away” actually means—and in what capacity—has yet to be determined.
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