Elon Musk Loses $35 Billion in a Week Due to Trump’s Tariffs – Tesla Drops Below $300 Billion

The world’s richest man, Elon Musk, has witnessed a staggering $135 billion decrease in his wealth since the start of 2025. Following recent tariffs imposed by Donald Trump, Musk’s net worth has dipped below $300 billion for the first time since November 2024. According to a report by The Washington Post, on Tuesday, April 8, 2025, Musk’s fortune fell under the $300 billion mark due to the direct impact of new U.S. tariffs announced last week. On Monday alone, Musk lost $4.4 billion, as reported by Bloomberg, leaving his estimated net worth at $298 billion. The decline is largely attributed to Tesla stock losses, which plummeted over 13% in one week. Since the tariffs were announced on April 2, Musk’s wealth has dropped by $35 billion. Despite these massive losses, Musk remains the wealthiest person globally, followed by Jeff Bezos ($196 billion), Mark Zuckerberg ($183 billion), Warren Buffett ($154 billion), and Bernard Arnault ($150 billion). Musk has publicly criticized the tariffs, sharing a video by economist Milton Friedman advocating for free trade. He also expressed hope for zero-tariff agreements between the EU and the U.S.