Elon Musk’s fortune plummets by $75 billion as Tesla slides 18 %
Fortune’s Yahoo report notes that Musk’s net worth has slipped from $432 billion to $357 billion. The fall follows a sharp drop in Tesla stock, political friction with President Donald Trump, and vandalism aimed at the company’s EV brand.
Only Fellow Billionaire to lose vastly
- Bill Gates has suffered a similar loss, but his decline stems from generous philanthropy.
Tech Titans see divergent outcomes
- Larry Ellison and Mark Zuckerberg gained from the AI rally.
- Elon Musk’s 2025 trajectory has been turbulent: in January he and his Tesla shares surged amid a friendly relationship with the country’s most powerful figure, President Trump.
Most Read on Euro Weekly News
Norway’s new cars almost totally electric
$243M Tesla Autopilot fine shakes up self-driving future
Musk ‘took outcome of war in Ukraine into his own hands’
The bromance was in decline
Elon Musk’s Turbulent 2024
Government Efficiency Departure
Elon Musk withdrew from his role in the Department of Government Efficiency, opting to dedicate his attention to Tesla amid a wave of boycotts and volatile share price movements.
Trump‑Musk Contract Strain
- Trump escalated tensions, threatening to revoke contracts linked to Musk’s private enterprises.
- The conflict deepened, directing pressure on Musk’s business interests.
Net Worth Decline Notice
On the closing day of 2024, Musk’s net worth was reported at $432 billion, a noticeable drop from his record peak of $486 billion yet well above its historical lows.
At the moment of writing, Bloomberg’s Billionaires Index lists Musk’s net worth at $357 billion, reflecting a substantial decline of roughly $75 billion from the earlier value.
Others have seen their wealth soar
Fortune Fluctuations on the Global Rich List
While some of the world’s elite experienced significant gains thanks to an AI‑driven rally in the markets, others saw their net worth dip during the same period.
Key Players on the Rich List
- Oracle’s Larry Ellison rose from $192 billion at the end of last year to $303 billion today.
- Meta’s Mark Zuckerberg climbed from $207 billion in 2024 to $272 billion at the time of this writing, according to Fortune.
- Largest drop: Amazon founder Jeff Bezos slipped from $239 billion to $234 billion, a relatively modest reduction compared to Elon Musk’s empire.
Recent Shifts in Bill Gates’ Net Worth
The Bloomberg Billionaires Index reported that Bill Gates’ fortune fell from $175 billion to $124 billion overnight on July 2nd. This change was attributed to a recalculation that aimed to better reflect Gates’ external charitable contributions.
Bloomberg updated its numbers after Gates confirmed that he was giving away virtually all of his wealth to his foundation.
Gates Foundation’s 20‑Year Deadline
Gates stated that his donation—approximately $100 billion—would be spent over the next 20 years. After that period, the Gates Foundation will shut its doors permanently.
