Elon Musk’s networth in free fall as Tesla, SpaceX crumble

UNITED STATES - DECEMBER 5: Elon Musk is seen in the U.S. Capitol after a meeting with Sen. John Thune, R-S.D., while on the Hill to talk about President-elect Donald Trump's "Department of Government Efficiency," on Thursday, December 5, 2024. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

Musk’s Net Worth Tanks as Tesla Crashes on Wall Street!

Elon Musk just took a massive financial hit. Tesla’s stock nosedived by 14%, marking its worst trading day in five years. The electric car giant has lost 50% of its market value since December, wiping out over $800 billion. The drop also dragged the Nasdaq down 4.4%, its worst single-day slump since 2022.

His Fortune in Freefall

Forbes reports that Musk’s net worth plunged by $23.4 billion in a single day. Once the world’s richest man with $464 billion, he has now lost a staggering $120 billion in just one month.

Trump’s trade wars are rattling global markets, and Musk Tesla is feeling the pain. European sales have dropped by 50%, adding to the company’s struggles. Uncertainty is pushing investors away, deepening the crisis.

At least with Tesla his other boss, U.S. President Donald Trump, wants to help him out – he announced to buy a Tesla out of solidarity.

His Political Moves Backfire

Musk’s role as Trump’s efficiency czar is turning into a PR nightmare. His attacks on European leaders are backfiring, with customers distancing themselves from Tesla. Political baggage is now a growing problem for the brand.

Elon Musk isn’t just struggling with Tesla—SpaceX is also in crisis. Last week, Starship exploded after launching from Boca Chica, just like the test flight before it. That’s two catastrophic failures in a row, a rare setback for Musk’s rocket empire.

Now, SpaceX faces a major delay in testing its next-generation rockets, which are supposed to carry humans to the Moon and, eventually, Mars. With mounting pressure from NASA and investors, can Musk get his space ambitions back on track?

Can Musk Stop the Bleeding?

With Tesla’s stock in freefall and his fortune shrinking fast, Musk faces a tough road ahead. Will he turn things around, or is this just the beginning of Tesla’s biggest collapse yet?

Herbert Bauernebel

Herbert Bauernebel has been reporting from New York since 1999 and currently works for Bild.de, OE24 TV, and US Live. He also runs the news portal AmerikaReport.de. Bauernebel has covered nearly all major US events of the past quarter-century, including 9/11, Hurricane Katrina, Barack Obama’s election, Donald Trump’s surprise victory, the pandemic, last year’s election showdown, as well as natural disasters such as hurricanes and oil spills. He has also reported firsthand on international events, including the Asian tsunami, the Haiti earthquake, and the Fukushima disaster. He lives in Brooklyn with his family and holds degrees in communication and political science from the University of Vienna. Bauernebel is the author of a book about his experiences on 9/11, And the Air Was Full of Ash: 9/11 – The Day That Changed My Life.