Elon Musk’s net worth has plunged $113 billion since January, driven by Tesla’s sharp 33% stock drop and collapsing EV sales as public backlash mounts over his role in the Trump administration’s DOGE initiative. Tesla lost $448.3 billion in market value since January 17th amid protests, arson attacks, and growing investor frustration. SpaceX secured a $5.9 billion Pentagon contract and expanded an effort to bring broadband access to rural areas. xAI boosted its valuation by acquiring X, formerly Twitter, and attracting investors at a $120 billion target. Musk’s influence also helped advertisers return to X and banks unload its acquisition debt without losses. Musk said on Tesla’s earnings call that his government role has hurt the company and said he will reduce his time spent on DOGE starting in May.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Elon Musk's net worth has plunged $113 billion since January,
00:06driven by Tesla's sharp 33% stock drop and collapsing EV sales as public backlash mounts
00:11over his role in the Trump administration's Doge initiative.
00:14Tesla lost $448.3 billion in market value since January 17th amid protests,
00:20arson attacks, and growing investor frustration.
00:22SpaceX secured a $5.9 billion Pentagon contract
00:25and expanded an effort to bring broadband access to rural areas.
00:28XAI boosted its valuation by acquiring X, formerly Twitter,
00:32and attracting investors at a $120 billion target.
00:35Musk's influence also helped advertisers return to X
00:38and banks unload its acquisition debt without losses.
00:40Musk said on Tesla's earnings call that his government role has hurt the company,
00:44said he will reduce his time spent on Doge starting in May.
00:47For all things money, visit Benzinga.com slash GSTV.