Elon Musk's net worth has experienced a significant
decline amid his escalating feud with President Donald Trump. Depending on the
source, reports indicate a loss ranging from $27 billion to $34 billion.
This downturn is primarily attributed to a sharp drop
in Tesla's stock price, which fell approximately 14% in a single day, erasing
about $138 billion from the company's market capitalization. Musk, who holds a
substantial stake in Tesla, saw his personal wealth decrease accordingly.
Despite this setback, he remains the world's richest individual, with an
estimated net worth of $388 billion.
The conflict between Musk and Trump intensified after
Musk publicly criticized Trump's "One Big Beautiful Bill," a major
tax-and-spending proposal, labeling it a "disgusting abomination." In
response, Trump threatened to revoke federal contracts with Musk's companies,
including Tesla and SpaceX. Musk further escalated tensions by suggesting that
Trump is named in unreleased Jeffrey Epstein investigation files, implying this
as a reason for their continued suppression.
The financial repercussions extended beyond Musk.
Trump's own ventures suffered significant losses; shares of Trump Media &
Technology Group dropped by 8%, resulting in a $202 million loss, while his
$TRUMP cryptocurrency declined by 12%, costing him roughly $900 million.
Despite the public feud and estimated combined losses
of $21 billion, there are indications of a potential reconciliation. Reports
suggest that Trump and Musk are scheduled to meet to possibly ease tensions,
which could restore investor confidence.
As of the latest trading session, Tesla's stock has
shown signs of recovery, closing at $295.14, up 3.7% from the previous close.
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