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International Business Times
International Business Times
Lifestyle
Danielle Ong

Elon Musk's Net Worth Drops by $34B After Feud With Trump

Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Musk, who served as an adviser to Trump and led the Department of Government Efficiency, announced he would leave his role in the Trump administration to refocus on his businesses.

Elon Musk suffered a staggering $34 billion loss in personal wealth on Thursday following a heated public dispute with President Donald Trump.

Tesla shares plummeted 14.3% during Thursday's trading session, erasing approximately $150 billion from the electric vehicle company's market value. This massive loss translated to a $34 billion drop in Musk's net worth, marking the second-largest single-day drop ever recorded in the Bloomberg Billionaires Index. Despite this massive loss, Musk retained his position as the wealthiest individual globally, with his net worth falling to $334.5 billion.

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