Since January 17, just three days prior to the start of President Trump’s second term, the tech oligarch and fascism enthusiast has lost $113 billion, Bloomberg reports. The bulk of that loss has come from a 33 percent drop in the stock price of Musk’s Tesla car company, taking a chunk out of his wallet even as his other companies, such as SpaceX, Neuralink and XAi, have taken in more funding.
Musk has crowed about the success of his work in government through theDepartment of Government Efficiency. But he has been unable to live up to his own promises, claiming to save only $160 billion versus the lofty $2 trillion figure he said he would deliver. On top of that, his cost-cutting measures could end up costing taxpayers even more money. His efforts have made him massively unpopular, with 54 percent of Americans disapproving of the world’s richest man compared to 53 percent disapproval of Trump according to a new poll.
But even if that is true, it may not reverse Musk’s financial misfortunes or his lack of popularity. It’s not going to make Americans start buying his cars again or forget that he called Social Security, which millions of disabled and elderly Americans depend on, a “ponzi scheme.” Musk will have to work tirelessly to atone for his actions to get back into the public’s good graces, if that’s even possible.
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