Tesla and SpaceX CEO Elon Musk has seen his fortune drop below 300 billion for the first time since late 2024, according to the Bloomberg Billionaires Index. The world’s richest person lost an estimated 300 billion for the first time since late 2024, according to the Bloomberg Billionaires Index. The world’s richest person lost an estimated 4.4 billion in a single day as Tesla shares tumbled during Monday’s global market sell-off, bringing his total net worth down to 297.8 billion. This marks a staggering 297.8 billion. This marks a staggering 134.7 billion decline in Musk’s wealth since the beginning of 2025.
The dramatic drop comes as financial markets worldwide reel from the impact of new U.S. tariffs imposed by President Donald Trump. Major indices suffered heavy losses, with the Dow Jones plunging over 2,200 points and the Nasdaq entering bear market territory for the first time since 2022. The ripple effects reached Nigeria’s stock market, where investors lost approximately N659 billion as the All-Share Index recorded its biggest single-day decline this month, falling 1.23%.
Bloomberg’s index tracking the world’s 500 wealthiest individuals suffered its third-worst day on record, with collective losses totaling $271 billion. Tesla’s declining share price has been a major contributor to Musk’s shrinking fortune, reflecting broader concerns about the electric vehicle market and the economic impact of current trade policies. Market analysts warn the volatility may persist as investors continue to digest the implications of the new tariff regime on global commerce.
