Summary
Elon Musk’s net worth has dropped by $110.8 billion since its peak in December 2024, largely due to Tesla’s stock decline following Donald Trump’s new tariffs on Canada, Mexico, and China.
However, his close ties to Trump and influence over government contracts, including Starlink deals, may help him recover.
My theory is that he’s always known Tesla was massively overvalued and it was only a matter of time before the company’s stock started correcting towards a more realistic value for the amount of profit it actually generates. As such, he needed to take drastic action(s) to find other gold mines for him to exploit to retain his wealth base.
Emerald mines