Elon Musk’s Net Worth Falls $113 Billion as Tesla Suffers, While SpaceX and xAI Gain Ground

Elon Musk’s net worth has plunged $113 billion since January, driven by Tesla’s sharp 33% stock drop and collapsing EV sales as public backlash mounts over his role in the Trump administration’s DOGE initiative. Tesla lost $448.3 billion in market value since January 17th amid protests, arson attacks, and growing investor frustration. SpaceX secured a $5.9 billion Pentagon contract and expanded an effort to bring broadband access to rural areas. xAI boosted its valuation by acquiring X, formerly Twitter, and attracting investors at a $120 billion target. Musk’s influence also helped advertisers return to X and banks unload its acquisition debt without losses. Musk said on Tesla’s earnings call that his government role has hurt the company and said he will reduce his time spent on DOGE starting in May.