New York – Elon Musk’s net worth took a massive hit, dropping by $29 billion in just 24 hours as Tesla’s stock price suffered a steep decline. Data from the Bloomberg Billionaires Index shows that Musk’s fortune fell from $330 billion on Sunday to $301 billion by Monday evening, reflecting a 6.7% decrease. Since reaching a peak of $486 billion in December 2024, his wealth has plummeted by $132 billion in early 2025.
Tesla Stock Faces a Major Decline
The primary cause of this financial loss is the sharp drop in Tesla’s stock price. On March 10, the company’s shares sank by 15.43%, closing at $222.15 on the Nasdaq—a loss of $40.52 per share from the previous trading session. This marks the most significant one-day drop for Tesla since September 2020, when shares fell by 21.1% to $110.
Tesla is facing multiple hurdles, including slowing global sales. Reports indicate that vehicle orders in Germany have declined by 70%, while shipments to China have dropped by 49%. The overall stock market downturn, fueled by economic uncertainty and new trade policies from the Trump administration, has further impacted Tesla’s stock. The Nasdaq 100 index fell by 4%, while the S&P 500 dropped by 3% as investors pulled out of tech stocks.
Musk Remains Confident Despite Losses
Despite the financial setback, Musk remains optimistic about Tesla’s long-term success. Responding to concerns on social media, he reassured investors by stating, “It will be fine in the long term.”
However, Musk’s increasing involvement in politics has raised concerns among investors. As the head of the U.S. Department of Government Efficiency (DOGE), some analysts question whether he can effectively manage Tesla while handling government responsibilities.
Challenges Across Musk’s Business Ventures
Tesla isn’t the only company under Musk’s leadership facing difficulties. His social media platform, X (formerly Twitter), experienced a major outage on Monday, affecting thousands of users. Musk attributed the disruption to a large-scale cyberattack, claiming, “We get attacked every day, but this one was well-coordinated with significant resources. A large group or even a nation-state may be involved.”
Meanwhile, SpaceX has also encountered setbacks, particularly with its ambitious Starship program. Two recent test launches ended in failure, with the latest attempt on Thursday scattering debris across a wide area and temporarily affecting air traffic. A previous launch explosion in January had a similar impact, with debris reportedly reaching as far as the Turks and Caicos Islands.
Musk, however, remains undeterred. Sharing a photo of himself inspecting the aftermath of a failed launch, he posted, “Today was a minor setback.” He assured SpaceX supporters that another Starship launch is expected within four to six weeks, emphasizing that space exploration requires patience and long-term vision.
Investor Confidence Wavers
While Musk remains confident, concerns are growing among investors. Analysts warn that Tesla’s declining sales, coupled with Musk’s expanding government role and ongoing legal challenges, could impact the company’s position in the market.
As financial markets continue to react, all eyes remain on Tesla and Musk’s broader business empire to see if his optimism will lead to a recovery in the coming weeks.
