Elon Musk's Net Worth Has Dropped Tens of Billions of Dollars, Now It's This Much

Bittime - Elon Musk's fortune recently experienced a significant decline in net worth. Why is that possible? Check out the details of the decline and the factors causing it in this article.

After reaching a peak wealth of $486 billion (around Rp. 7,921 trillion) in December 2024, his wealth has now fallen below $400 billion (around Rp. 6,520 trillion) for the first time this year. 

This decline was mainly caused by the fall in shares of Tesla, the electric car company which is the main source of Musk's wealth.

Tesla Shares Collapse, Elon Musk's Net Worth Drops

Tesla shares have fallen by 27% in the last few weeks. This decline contributed significantly to the reduction in Musk's wealth, considering that around 60% of his total wealth comes from share ownership in Tesla. 

Additionally, Tesla reported an annual sales decline for the first time in more than a decade, with sales of 20,000 fewer units in 2024 than the previous year. 

Read also: Elon Musk's DOGE Staff Have Access to US Social Media and Financial Systems?

Tight competition with the Chinese electric car manufacturer, BYD, which offers vehicles at more affordable prices and advanced technology, is one factor in this decline.

Other Factors Affecting Elon Musk's Wealth

Apart from Tesla's performance, Musk's involvement in politics is also in the spotlight. His active support of President Donald Trump and his role in the administration as head of the Department of Government Efficiency have generated controversy. 

Some consumers and investors felt uncomfortable with Musk's political affiliations, which impacted public perception of the Tesla brand.

Read also: Elon Musk says: Donald Trump has agreed to shut down USAID Security

Musk's Current Net Worth

According to the Bloomberg Billionaires Index, Elon Musk's net worth is currently at $395 billion (around IDR 6,448 trillion). This decrease marks a reduction of around $90 billion (around Rp. 1,467 trillion) from the peak of his wealth in December 2024. 

Despite this, Musk remains one of the richest individuals in the world, with other significant assets such as a 42% stake in SpaceX, which is worth around $136 billion (around IDR 2,216 trillion).

FAQ

1. What is the main reason for the decline in Elon Musk's wealth?

This decline was mainly due to a 27% drop in Tesla's share price in recent weeks, as well as a decline in the company's annual sales.

2. Is Elon Musk still the richest person in the world?

Despite experiencing a decline in wealth, Elon Musk remains one of the richest individuals in the world with a net worth of around $395 billion (around IDR 6,448 trillion).

3. What other assets does Elon Musk own besides Tesla?

Apart from Tesla, Musk owns a 42% stake in SpaceX, which is worth around $136 billion (around IDR 2,216 trillion), as well as holdings in other companies such as X (formerly Twitter) and xAI.

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Reference 

Fortune, Elon Musk’s net worth falls below $400 billion for the first time this year after Tesla’s 27% stock avalanche, accessed February 12, 2025.

MSN, Elon Musk’s net worth falls below $400 billion for the first time this year after Tesla’s 27% stock avalanche, accessed February 12, 2025.

Author: Y