Elon Musk, the tech billionaire and CEO of Tesla and SpaceX, saw his net worth plummet by a staggering $33.9 billion on Friday, in what Bloomberg describes as one of the most dramatic single-day losses in recent history.
The financial blow came as Tesla’s stock tumbled by 14 percent, dragging Musk’s estimated wealth down to $335 billion from $368 billion, according to the Bloomberg Billionaire Index.
Since the beginning of 2025, Musk has now lost nearly $98 billion — a 22.6 percent decline — largely driven by market volatility and growing tensions with former U.S. President Donald Trump.
Once close allies during Trump’s second term, the relationship between the two has soured following Musk’s vocal opposition to Trump’s controversial “big, beautiful tax bill.” Speaking recently to reporters in Washington, Trump expressed disappointment over Musk’s stance, saying he expected more loyalty.
Musk fired back on his social media platform, X, writing, “Such ingratitude,” and claiming that he was instrumental in Trump’s political rise. The feud has since escalated, with Musk calling for Trump’s impeachment over allegations linking him to the late Jeffrey Epstein.
In retaliation, Trump has reportedly threatened to cancel lucrative federal contracts with Musk’s companies, further intensifying the public and political standoff between two of America’s most powerful figures.
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