Elon Musk Net Worth Takes a Massive Hit As Tesla Stock Drops Sharply Amid His Dispute With Donald Trump, Billionaire Loses USD 34 Billion in One of His Worst Wealth Losses Ever
Mumbai, June 6: Billionaire Elon Musk’s fortune took a massive hit on Thursday, June 5, as Tesla stock plummeted amid his escalating feud with US President Donald Trump. As the two once close allies publicly turned on each other over Trump’s “Big Beautiful Bill”, the billionaire’s net worth dropped by a staggering USD 34 billion, marking one of his worst wealth losses ever. Reportedly, Tesla shares fell by 14% to USD 285, dragging Musk’s valuation below USD 400 billion.
The sharp decline in Tesla’s stock price came as tensions between Musk and Trump reached new heights, with both trading personal insults and threats on social media. According to a Bloomberg report, this public feud has caused Musk a massive USD 34 billion loss, making it the second-largest single-day wealth drop ever recorded on the Bloomberg Billionaires Index, only surpassed by Musk’s own USD 36 billion loss in November 2021. Tesla Share Price Drop: EV Company’s Stock Falls Sharply as Elon Musk’s Feud With US President Donald Trump Over GOP Tax Bill Spooks Investors.
A Forbes report also highlighted that Musk’s net worth fell to USD 388 billion, slipping below the USD 400 billion mark for the first time in months. On Thursday, Tesla saw a 14% plunge, marking one of its worst trading days since its 2010 IPO, placing it among the company’s largest single-day losses ever. Investors grew wary of the political risks tied to Musk’s ventures. The tension raised concerns about Tesla’s future under a Trump administration. ‘Donald Trump Is in Epstein Files’: Elon Musk Drops ‘Big Bomb’, Wants US President’s Impeachment Amid His Feud Over ‘Big Beautiful Bill’.
The conflict between Musk and Trump has had broad market repercussions, with Tesla losing over USD 150 billion in market capitalisation in one day, more than the combined valuations of Ford, General Motors, and Rivian, the next three largest American automakers.
(The above story first appeared on LatestLY on Jun 06, 2025 08:08 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
