How much money did Elon Musk and Tesla lose today? It has become a trending search on Google, as the markets fell on Monday, March 10. On Wall Street, the main stock indexes are recording significant losses, reflecting fears of a possible economic slowdown in the United States and the impact of increased trade protectionism. In this context, Tesla’s stock (NASDAQ: TSLA) has suffered a significant drop, losing all the gains obtained after the 2024 presidential elections.
What is the current outlook for financial markets?
The U.S. stock markets have recorded sharp declines. At the start of the week, the Nasdaq fell 3.67%, reaching 17,522.18 points; the S&P 500 lost 2.18%, closing at 5,644.50 points; and the Dow Jones dropped 1.12%, reaching 42,322.78 points.
These declines are mainly attributed to comments made by Donald Trump, who acknowledged that his policies could affect U.S. economic growth in the short term, although he believes they will be positive in the future.
Trump has insisted that his measures, mainly the imposition of tariffs, could negatively impact economic growth in the short term but defended that, in the long run, they would bring benefits.
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What are the reasons behind Tesla’s stock market decline?
Tesla’s stock has dropped 55% from its peak following the 2024 presidential elections. Currently, the stock is trading around $221, compared to $251.44 before the elections. On Monday alone, Tesla suffered a 16% loss.
Among the factors influencing this decline is the rejection of Elon Musk in several countries, mainly in Europe, where boycotts against the brand have been promoted, and sales have dropped.
Another key factor in Tesla’s decline has been the increasing competition from Chinese and European manufacturers. In January, Tesla’s sales in Europe fell by 45%, while its competitors gained market share.
How much money did Elon Musk lose from his net worth?
According to Forbes, Elon Musk’s fortune has dropped by $139.4 billion from its peak of $464 billion in December, currently standing at $324.6 billion. On Monday alone, his net worth decreased by $18 billion due to Tesla’s stock plunge.
Despite this loss, Musk remains the richest person in the world, with an advantage of approximately $115 billion over his closest competitor. However, Tesla’s volatility could continue to impact his fortune in the coming months.
