Elon Musk. Photo: REUTERS/Nathan Howard
Jakarta — Elon Musk, the influential CEO of Tesla and SpaceX, has experienced a staggering drop in personal wealth, losing approximately $52 billion since the beginning of 2025. Despite this significant loss, Musk retains his title as the richest person in the world, with an estimated net worth of $380 billion, which is $144 billion more than the second richest, Meta's CEO Mark Zuckerberg.
The decline in Musk's wealth can largely be attributed to the poor performance of Tesla's stock, which has plummeted over 20% in the past month. This slump has caused Tesla's market value to dip below the $1 trillion mark for the first time since November 2024.
Moreover, according to the European Automobile Manufacturers Association, Tesla is facing unprecedented sales challenges. Despite the popularity of electric vehicles in Europe, the company's sales reportedly plummeted by 45% last month. This decline raises questions about the underlying factors affecting Tesla's market position.
While Musk is often in the spotlight for his controversial persona, it remains unclear if his recent political activities have significantly influenced Tesla's dip in sales. Analysts suggest that increasing competition, particularly from Chinese manufacturers, coupled with declining demand growth in the United States, may play a more critical role in the company's struggles this year.
Investor sentiment regarding Musk has shifted notably since November 2024, coinciding with Donald Trump's presidential election victory. At that time, Musk's net worth reached a record high of $347.8 billion, fueled by optimism that his close ties to the Trump administration would usher in a deregulatory era beneficial for companies like Tesla. Following the election, Musk's fortune surged by an impressive $83 billion.
However, with the recent downturn in Tesla's stock prices, it appears that investor confidence is waning, leading to a more cautious outlook on both Musk and Tesla's future performance.
