Elon Musk is just a bit bit much less wealthy right now.
Wednesday finds Musk, the world’s richest man, together with his pockets roughly $110.8 billion lighter than his peak web price of $464 billion, recorded on December 17, 2024. Forbes reported that because of the inventory market’s screaming plummet that started Monday night with Donald Trump’s announcement of huge time tariffs on items from Canada and Mexico, in addition to extra tariffs for China, Tesla’s inventory additionally took successful, closing at $272.04 on Tuesday.
Consequently, Musk misplaced $1.5 billion in at some point. Certainly, this was not the kind of cost-cutting he hoped to attain with DOGE.
Within the past 52 weeks, Tesla’s inventory worth has ranged from $138.80 per share to $488.54. The latter excessive got here on December 17, post-election, and Tuesday’s closing marked its lowest since Trump was elected.
The possibly excellent news for Musk, nevertheless, is that he has Trump’s ear, and all of the ethically questionable enterprise entanglements match to print. He’s, if not at all times within the precise room the place it occurs, not less than sleeping on the ground in an workplace throughout the road from that room. DOGE—which, as you’ll recall, he’s legally positively not working, it doesn’t matter what you would possibly hear from Trump himself through the State of the Union—could also be unhealthy at math, however there’s at all times hope of one other windfall, maybe from a Starlink take care of the FAA.
Musk could have to modify to regardless of the billionaire model of generic Corn Flakes is (gold fill desk doodads with platinum plating, as a substitute of pure platinum?), however there’s hope for his coffers but.
What a reduction.
