Elon Musk net worth: Elon Musk is the world’s richest man and also US President Donald Trump’s chief of cost-cutting. About three days back we reported that he suffered a major loss of $120 billion as the shares of his multinational car company Tesla crashed making a huge dent in his net worth. It was attributed to the uncertainty prevailing over the stock market which is trembling under the Trump administration’s tariffs over China Mexico and Canada. He remains the world’s richest man. Elon Musk the man behind Tesla SpaceX and X with an estimated USD 330 billion fortune is still the worlds richest person but given the performances of his conglomerate since the start of 2025 he has undergone a sharp decline of nearly 25%. This situation has raised serious concerns about his future and the future of his businesses. The main reason being cited for the massive drop in his wealth is the poor show of his electric vehicle Tesla. Musk’s wealth is closely tied to Tesla and the electric car company’s struggles are a big part of his financial troubles. Since the beginning of 2025 Teslas share price has fallen by about 35% wiping out USD 400 billion in market value. According to market observers the drop in sales of American electric vehicles since December 2024 combined with growing competition from other EV makers and reduced demand for luxury electric cars have added to Teslas challenges. One more reason being cited behind the huge loss is Elon Musk’s increasing political involvement in the Trump administration. Musk has been appointed by Trump as the head of the newly created Department of Government Efficiency (DOGE). Also Musk is focussing on several big projects at one time including Tesla SpaceX X and his political responsibilities. There is a fear in the market that his responsibilities as the head of DOGE could distract him from helping Tesla to bounce back. Musk has also claimed that EV maker Tesla is being targeted by activist groups funded by ActBlue a major Democratic fundraising platform while anti-Tesla sentiment is growing with incidents of vandalism arson and protests against the brand increasing around the world. However market commentators reason that Tesla is grappling with adverse situations due to Musk’s unpredictable leadership and political choices. They have ruled out any outside conspiracy against Elon Musk. Elon Musk remains the richest person in the world followed by Meta CEO Mark Zuckerberg.