For the first time since November 2024, Elon Musk's wealth, the richest person in the world and head of the Department of Government Efficiency (DOGE), has dropped below $300 billion, according to Bloomberg.

Reasons for Musk's Wealth Decline: Political Ties and Market Fluctuations

Currently, Musk's wealth is estimated at $297.8 billion, with losses this year reaching $134.7 billion.

According to the Bloomberg Billionaires Index, Musk lost $4.4 billion on Monday due to a decline in his automotive company's stock.

Additionally, over Thursday and Friday last week, Tesla's market capitalization shrank by $31 billion.

Musk now ranks sixth for the largest losses among the 500 richest people in the world.

On April 7, index participants lost $271 billion, marking the third-largest decline in history.

Following Trump's election victory, Tesla's stock surged, leading to a record increase in Musk's wealth.

However, his role as a Trump advisor has led to protests and vandalism against Tesla, both domestically and internationally.

Musk's actions and social media activity have alienated potential buyers and key Tesla owners who do not share his political views, damaging the company's brand.

500 billionaires have lost over $200 billion due to Trump's tariffs.

On the evening of April 2, U.S. President Donald Trump announced new "corresponding tariffs" on imports from many countries.

The tariffs will be: 20% for the EU, 46% for Vietnam, 32% for Taiwan, 24% for Japan, 25% for South Korea, 36% for Thailand, 31% for Switzerland, 32% for Indonesia, 24% for Malaysia, 49% for Cambodia, 10% for the UK, and 30% for South Africa. A basic tariff of 10% has been set for Ukraine. The new tariffs do not apply to Russia and Belarus.

The total value of the assets of the 500 richest people fell by $208 billion due to significant tariffs.