Billionaire Elon Musk lost nearly 135 billion USD

 Since the beginning of this year, American technology billionaire Elon Musk has lost nearly 135 billion USD due to fluctuations in the stock market.

Billionaire Elon Musk (Photo: Reuters).

According to data, the fortune of billionaire Elon Musk, founder and CEO of Tesla and SpaceX, fell below $300 billion for the first time since November 2024.

Specifically, on April 7, this billionaire’s assets evaporated 4.4 billion USD after Tesla shares continued to decline, leaving his total assets at only 297.8 billion USD. He is the 6th person who lost the most assets among the 500 richest people in the world according to the Bloomberg index.

Previously, on April 3 and April 4, after President Donald Trump announced new tariff policies with more than 180 US trading partners, Mr. Musk’s assets decreased by 31 billion USD.

Musk has lost a total of $134.7 billion this year despite a surge in Tesla shares following President Trump’s re-election last November. Tesla shares have fallen more than 50% since peaking in mid-December 2024.

The Trump administration’s new tariff policy is causing the US stock market and the world market in general to fall sharply.

Speaking to reporters on Air Force One on April 6, US President Donald Trump said he was not concerned about losses after the US stock market evaporated nearly $6,000 billion due to the new tariff policy.

On the contrary, he sees it as a “medicine” to solve the trade imbalance between the US and its partners. He asserts that the new tax policy will make the US richer than ever.

JPMorgan economists now predict the tariffs will reduce US GDP by 0.3%, and the unemployment rate will rise to 5.3% from the current 4.2%.