Stocks dropped as the selling pressures that dragged Wall Street last week persisted, while investors braced for a slew of economic data reports this week.
The “Magnificent Seven” cohort — once the stars of this bull market — led the declines Monday as investors dumped the group for perceived safer plays. Tesla tumbled 13%, heading for its worst day since 2020
Having been first listed on the Forbes Billionaires List in 2012,[4] around 75% of Musk’s wealth was derived from Tesla stock in November 2020
In terms of out-of-pocket costs for the Trump presidency, Musk is paying considerably more in terms of stock losses than in the ~$300 million he donated to the campaign.
As shares of Tesla Inc. lose ground, the company’s chairman and presidential adviser Elon Musk is losing big.
Forbes, which maintains a real-time billionaire wealth tracking tool, estimates the 53-year-old was worth $342.4 billion as of the close of business Thursday, down a whopping $121.2 billion from its all-time high of $464 billion, set Dec. 17. He’s still the richest person in the world, however.
That’s not just due to Trump being re-elected and Musk’s very public role there, but it sure doesn’t help.
https://en.wikipedia.org/wiki/Wealth_of_Elon_Musk
In terms of out-of-pocket costs for the Trump presidency, Musk is paying considerably more in terms of stock losses than in the ~$300 million he donated to the campaign.
https://www.usatoday.com/story/money/business/2025/03/09/musk-loses-billions-amid-tesla-sell-off/82137324007/
That’s not just due to Trump being re-elected and Musk’s very public role there, but it sure doesn’t help.