As of April 7, 2025, Elon Musk's net worth has decreased by $134.7 billion since the start of the year, landing at $297.8 billion, according to the Bloomberg Billionaires Index. This decline is attributed to the fallout from U.S. President Donald Trump's tariffs, which have impacted even those closely associated with him.
Despite this significant drop, Musk remains one of the wealthiest individuals globally. The overall Bloomberg Billionaires Index experienced a substantial decrease, marking one of its worst days ever, with a total loss of $271 billion on April 7.
Other billionaires have also seen changes in their wealth. Warren Buffett, for example, has increased his net worth by $12.7 billion this year, reaching $155 billion, due to his investment strategies during the volatile market conditions caused by Trump's trade war. In contrast, Jeff Bezos's net worth has fallen to $193 billion with a loss of $45.2 billion.
Musk's financial reversal follows a period where Tesla shares surged after Trump's election. However, his role as an advisor to Trump has since made Tesla a target for protests and other actions, contributing to the decline in the company's stock value.