Tesla CEO Elon Musk has seen his net worth tank by around $102 billion in the last couple of months, mostly due to Tesla’s share price dropping around 35% this year (from around $404 to $263). The company’s market value has dropped by almost $400 billion, and about 60% of Musk’s wealth is from Tesla shares and options.
U.S. sales of Tesla vehicles dropped 16% in the U.S. in December 2024 and January 2025, according to Cox Automotive, while sales in China fell 29% during January and February, per CNN.
Musk is still the richest person in the world, though, with a net worth of $330 billion, according to Bloomberg. And some analysts are optimistic that Tesla will turn around despite its massive drop in value.
“While the DOGE/Trump Musk iron-clad partnership has created major brand worries for Tesla … we estimate less than 5% of Tesla sales globally are at risk from these issues,” Wedbush analyst Dan Ives said in a note on Friday, per Barron’s. “We expect Musk will better balance his time between DOGE and Tesla/SpaceX over the course of 2025.”
Amazon founder Jeff Bezos and Meta CEO Mark Zuckerberg are currently tied for the No. 2 spot with $222 billion each. (It’s worth noting the tie is due to Bezos’s wealth being down $16 billion year-to-date and Zuckerberg’s up $14 billion.)
Related: Want to Work for DOGE? Elon Musk Is Looking for ‘Super High-IQ’ Hires — But There’s a Catch
This story originally appeared on Entrepreneur
