Elon Musk’s net worth dropped by $22.2 billion on Tuesday, suggesting that the markets don’t have nearly as much confidence in Musk and Trump’s DOGE slashing and grabbing as they do. This is the fourth-largest one-day drop in net worth for the billionaire, according to Bloomberg.
The losses are most visible in the European market for Musk’s Tesla company. Tesla sales were cut in half in January as Musk’s international political meddling grows increasingly unpopular across the continent. In the United States, Tesla shares fell by 8.4 percent, sending the company’s market value under $1 trillion for the first time in months.
A strong market was one of Trump’s biggest campaign promises. But his actions since then—particularly his proximity and deference to Musk—have only led to more instability.
Read more at Bloomberg.
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