Elon Musk loses $148 bn in net worth: Why are billionaires losing money?

In December 2024, Elon Musk's fortune peaked at $486 billion. However, he is one among the many billionaires who are witnessing financial setbacks

The net worth of Elon Musk, the richest person in the world, has tumbled $148 billion since January 17 this year, according to the Bloomberg Billionaires Index. Musk, whose fortune peaked at $486 billion in December 2024, lost $29 billion on Monday alone.

 

His wealth decline is attributed to Tesla's declining stock, investor concerns, and dipping sales in crucial markets. However, Musk is one among the many billionaires who are witnessing financial setbacks, including Amazon chief Jeff Bezos, Sergey Brin, former president of Alphabet, Meta chief Mark Zuckerberg, and Bernard Arnault, chief executive officer (CEO) of LVMH.

 

The billionaires collectively lost $209 billion since Donald Trump became US president. The decline in their wealth is also being attributed to the downturn in the stock market and uncertainty in the US government policies.

 

 

Here's why the billionaires are witnessing a decline in their wealth:

 

Elon Musk: Owing to Musk's political views and his role as the chief of US Department of Government Efficiency (DOGE), Tesla's sales have dropped drastically, with orders in Germany witnessing a blow of over 70 per cent. On the other hand, the company's shipments from China fell by 49 per cent, marking the lowest level since July 2022. Tesla's short-lived post-election gains have also been erased, along with the weakening of investor sentiment.

 

Jeff Bezos: Amazon's executive chairman's wealth tumbled $29 billion as the company's stock dipped over 14 per cent after Trump's inauguration. The report suggests that even though Amazon chief donated $1 million to President Trump's inauguration fund, changing government policies and market uncertainty have weighed on Bezos' valuation.

 

Mark Zuckerberg: While Meta stocks rose initially in 2025, the gains have now been erased, which has resulted in Zuckerberg losing over $5 billion.

 

Bernard Arnault: LVMH owner has also faced a similar fate to Zuckerberg and suffered a $5 billion hit after investor confidence was crumbled following the fears of US tariffs on European luxury goods.

 

Sergey Brin: Former president and co-founder of Google's parent company, Alphabet, is also one of the hardest-hit billionaires as his wealth dropped by $22 billion. This is after his company has been facing antitrust challenges and regulatory pressure from the Department of Justice. The company's stock also tumbled after it missed its quarterly earnings estimates.