Elon Musk Is So Far The Biggest Loser From Trump’s Tariffs

Elon Musk lost substantial wealth when Tesla stock took a major downward turn on Monday while he led the list of Fortune 500’s largest wealth diminutions. The share prices of Tesla dropped by 5%, which turned out to be the biggest decline among U.S. public companies with a market capitalization exceeding $200 billion.

On Monday Musk experienced an $11.8 billion loss, which established him as the most financially burdened individual of that day. As a Tesla shareholder controlling a 13% stake, Musk faces concerning import tariffs, which, according to the company, threaten its financial performance.

During early trading hours, Tesla shares sunk to a 7.5% drop, reaching a low point that matched the market position of January 2. The stock market suffered broader volatility that caused the S&P 500 to plunge to a 1.9% decrease but recovered to a 0.8% daily loss.

Tesla faces critical risks because it runs in the North American auto supply chain and draws most of its revenue from China. During 2024, Tesla earned $20.9 billion in sales from China, which constituted 21% of its worldwide revenue. During the latest earnings call, Tesla CFO Vaibhav Taneja pointed out that trade barriers would create business difficulties and reduce profitability metrics.

Social media users have seen minimal interaction from Musk concerning the $68 million SpaceX deal cancellation caused by Canadian disarmament tariffs. He chose to post, “Oh well.”.

Tesla stock values have increased by 53% since Trump won the November election, even though tariffs represent a major business obstacle for the company. This growth has allowed Elon Musk to expand his net worth to $150 billion beyond Jeff Bezos’s Amazon wealth.

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