Elon Musk, the world’s richest person and CEO of Tesla, has seen his net worth plummet by a staggering $100 billion in just a few weeks. This dramatic loss comes as Tesla’s stock faces intense pressure, shedding nearly 30% of its value since its peak in November 2023.
The decline is attributed to a combination of factors, including rising competition in the electric vehicle (EV) market, concerns over Tesla’s valuation and broader economic uncertainties. Analysts have long warned that Tesla’s sky-high market capitalisation—once exceeding $1.2 trillion—was unsustainable. Now, those warnings seem to be materialising as the company’s shares tumble.
Musk’s wealth, largely tied to his Tesla holdings, has taken a massive hit. At its peak, his net worth soared to over $340 billion, making him the first person in history to cross the $300 billion mark. However, the recent sell-off has erased a significant portion of that fortune, leaving Musk with a net worth of around $240 billion as of March 2025.
The downturn has also sparked debates about the volatility of tech stocks and the risks of overvaluation. Tesla, once a darling of Wall Street, is now facing skepticism from investors who question whether the company can maintain its dominance in an increasingly crowded EV market.
Adding to the pressure, Musk’s focus on other ventures, such as SpaceX and his controversial acquisition of Twitter (now X Corp.), has raised concerns about his ability to steer Tesla through these turbulent times. Critics argue that his divided attention could further destabilize the company’s prospects.
Despite the setback, Musk remains one of the wealthiest individuals on the planet and Tesla continues to be a major player in the EV industry. However, the recent financial turmoil serves as a stark reminder of the unpredictable nature of the stock market and the fleeting nature of even the largest fortunes.
As investors brace for more volatility, all eyes are on Musk and Tesla to see if they can regain their footing—or if this marks the beginning of a new chapter in the billionaire’s rollercoaster journey.