- Elon Musk's net value fell by 25%“Or or about $ 113 billion – as unaugence of President Donald Trump. Tesla's actions, from which Musk draws around 60% of her wealth, plunged his nose as sales for the EV diving, partly a negative feeling about his involvement in Doge.
Elon Musk has lost more than a billion dollars a day, on average, in the first 100 days of President Donald Trump's second term. The CEO of Tesla saw a total of approximately $ 113 billion, or 25% of its personal wealth decrease since January 17, according to the Bloomberg billionaires index.
Musk played a key role in the administration of Trump, unofficially leading the Ministry of Government's Effectiveness (DOGE) responsible for slaughtering the federal workforce and the financing of what Musk claims to be an effort to reduce costs. During all this time, he continued to chair his businesses – from Tesla to SpaceX – despite the concerns of investors that he is too thin. But after the first 100 days of Trump in the White House, Musk finds himself with little to show for his efforts.
Tesla's share price fell 33% since the inauguration of Trump, and 41% since its record peak in December 2024. After the company declared a 13% drop in sales in the first three months of the year, investors continuously pleaded with Musk to take a step back from Doge. Musk draws approximately 60% of its wealth from the manufacturer of electric vehicles.
“These are 100 days of destruction,” said Elaine Kamarck, director of the Center for Effective Public Management Management at Brookings Institution in Washington, Tell Bloomberg. “Doge cuts into the muscle, not fat. Elon Musk takes a lot of warmth for Trump's decisions, and people decided to hate Musk more than Trump.”
The White House and Tesla did not respond to FortuneComment requests.
100 days of musk in the government
Musk’s mandate as a “special government employee” in Trump administration – which should take place in 30 days – was marked by the controversy. Although the opinion predicted to save 2 billions of dollars in the “fraud, waste and abuse” government, he claims to have Saved only $ 160 billionWhat some experts affirm is always an exaggeration. Meanwhile, the Budget Laboratory of the University of Yale claims that the mass layoffs of DOGE in the Internal Revenue Service will in fact cost the government of taxpayers' revenues, while certain economists fear that the reductions in private sector contracts threaten small businesses and the labor market.
Doge failed to gain the confidence of most Americans. According to an April Washington Post–Abc News Ipsos Poll57% of Americans disapprove of how Musk manipulated Doge, compared to 49% interviewed in February.
While SpaceX, as well as United Launch Alliance (ULA) and Blue Origin, belonging to Jeff Bezos, obtained a $ 13.5 billion contract From the Pentagon, Tesla's fortune under Trump was clearly different. The manufacturer of electric vehicles already faces Rocky sales due to increased competition from China. Tesla's financial director Vaibhav Taneja predicted that the results of the company's fourth quarter call for Trump's pricing plan [its] company and profitability.
Meanwhile, Musk's participation in the Trump administration has politicized his business, causing boycotts and demonstrations with the intention of “going bankrupt” musk, according to a protest organizer. Musk is inextricable from the brand of its brand EV, according to Dan Ives, a longtime Tesla Bull and managing director of Wedbush Securities. Unless Musk moves away from her responsibilities in Doge, Tesla would continue to be the target of the anger of the Americans towards Musk and its role in the Trump administration, he argued.
“The clock struck midnight,” said Ives Fortune last month. “The frustrations of investors have passed, and the more Tesla becomes a political symbol, the worse it is for the brand and the stock.”
The net value of musk fell below $ 300 billion Earlier this month for the first time since November 2024, after market upheavals following Trump's pricing deployment.
The potential reversal of musk
There are signs that the tide will turn around for musk. Its wealth has since returned to around 335 billion dollars when Tesla's shares continue to rally – although it is still well below its peak in December 2024 – by its record of its role in Tesla. Musk's return to Tesla could be a balm for the company, but not a quick solution.
“We consider this as a period of fork on the road: if Musk leaves the White House, there will be permanent mark damage,” investors told Ives earlier this month. “But Tesla will have its most important asset and its strategic thinker as a full -time CEO.”
Musk conceded in his presentation of the gains, he will probably continue to work with the president to a certain extent for the rest of his mandate, leading Doge Business one or two days a week. Meanwhile, Trump continued to stand in Musk, praising his achievements within the administration.
“I can't talk more about any individual,” Trump Tell to journalists Last week. “It was treated very unfairly by – I guess you call it the public, part of the public.”
“He loves the country,” added Trump. “He doesn't need to do that.”
This story was initially presented on Fortune.com
