Elon Musk appeared visibly emotional during a recent Fox Business interview when questioned about his other business ventures, following Tesla’s most significant stock decline since 2020.
Despite being one of the world’s wealthiest individuals, Musk’s financial standing has taken a substantial hit. Although Forbes’ real-time billionaire index still places him over $100 billion ahead of Jeff Bezos, his net worth has been on a downward trajectory since Donald Trump assumed the presidency.
While Trump’s victory over Kamala Harris initially benefited the ultra-wealthy, Musk’s financial gains were short-lived. His decision to align himself with the White House and accept a leadership role as the head of the Department of Government Efficiency has made him a more polarizing figure than ever. As Tesla’s stock continues to plummet, Musk has seen his fortune shrink by $116 billion from its peak, raising concerns about his financial future.
According to Bloomberg, Musk’s wealth dropped by an astonishing $29 billion in a single day. Speaking with Fox Business after losing $18 billion in just 24 hours, Musk appeared deflated and candid about the challenges he is facing.
When asked about managing his other business interests, Musk struggled to respond before admitting, “With great difficulty.” Fox’s Larry Kudlow then pressed him on whether he could reverse his fortunes, to which Musk replied, “I’m just here trying to make the government more efficient, eliminate waste and fraud. So far, we’re making good progress.”
However, the mention of his business empire’s struggles appeared to strike a nerve. Despite his financial setbacks, there is no indication that Musk intends to step away from his role at the Department of Government Efficiency.
According to Business Insider, the situation could be even more dire than reported. Citing the Bloomberg Billionaires Index, the outlet noted that Musk’s net worth had fallen to $301 billion by the evening of March 10, down from $330 billion the previous day—an astonishing single-day loss of $29 billion, or 6.7%. This sharp decline was driven by Tesla’s stock plummeting 15% on March 10, marking its worst single-day performance since September 2020.
In a broader context, Tesla’s stock has dropped 55% from its December 2024 peak, contributing to a staggering $132 billion (30%) reduction in Musk’s net worth in 2025.
Meanwhile, frustration with Tesla has intensified, with some individuals resorting to vandalizing Tesla vehicles and facilities, while certain Tesla owners have defaced their own cars in protest.
Public sympathy for Musk’s financial troubles appears to be limited. In response to the viral clip of his interview, one commenter remarked, “All his businesses? No, he’s just throwing one publicly traded company under the bus. The rest of his ventures are still thriving, benefiting from billions in government contracts.”
Another quipped, “He did Nazi that coming.”
A third person observed, “A rare moment of self-awareness as he realizes that most people actually dislike him. But it won’t last—his delusions always return soon enough.”
For now, Musk remains focused on his mission to reduce government expenditures, serving as the president’s self-styled ‘First Buddy.’
