Elon Musk’s net worth has slipped below the $300 billion mark for the first time since late 2024, as global financial markets buckle under the weight of intensifying trade tensions between the United States and China. According to the Bloomberg Billionaires Index, the Tesla CEO saw his fortune shrink by an estimated $4.4 billion on Monday alone, bringing his current net worth to $297.8 billion. This latest decline places him among the biggest financial losers of the day.
Musk’s wealth has been significantly impacted by the ongoing market downturn, with Tesla shares taking a substantial hit amid broader investor sell-offs. Since the beginning of 2025, his personal fortune has fallen by $134.7 billion, highlighting the scale of the volatility plaguing both the tech sector and the wider economy.
The downturn comes in the wake of a sharp escalation in trade hostilities. The United States’ imposition of new tariffs prompted swift and severe retaliation from China, including a 34 percent levy on a range of American exports. The resulting uncertainty sent shockwaves through global markets, with the Dow Jones Industrial Average plunging by more than 2,200 points and the Nasdaq officially entering bear market territory for the first time in three years. Bloomberg’s index tracking the world’s 500 wealthiest individuals dropped by a staggering $271 billion in a single day—marking one of its worst trading sessions on record.
Despite his known alignment with President Donald Trump and his role as head of the Department of Government Efficiency (DOGE), Musk has reportedly expressed private concern over the administration’s aggressive trade stance. Sources told The Washington Post that Musk has made direct appeals to the president, urging him to reconsider the proposed 50 percent tariff on Chinese imports, which many fear could deepen an economic downturn and prompt a recession.
While Musk has voiced his opposition publicly, his behind-the-scenes lobbying efforts appear to have made little headway. The situation has sparked widespread criticism, with some observers questioning the billionaire’s dual role as both policy adviser and business leader. Critics argue that Musk’s proximity to political power has become increasingly fraught, as his personal and professional interests become harder to separate from the administration’s controversial economic agenda.
In response to mounting frustration, protest movements under the banner “Hands Off” are scheduled to take place in major U.S. cities this week, targeting both President Trump and Musk. Demonstrators aim to highlight the human and financial toll of the ongoing trade war and the perceived lack of accountability among those driving these policies.
As geopolitical tensions escalate and China vows further retaliation, Musk’s financial losses may signal more than just a market correction—they could mark the beginning of a more complex reckoning for the tech magnate’s political affiliations and business ambitions.
