The story behind the net worth of President Donald Trump and Elon Musk has changed drastically this year, but for different reasons.
Why It Matters
Trump’s third bid for the White House resulted not just in him reclaiming his seat in the Oval Office but also in increasing his net worth by nearly double within the past year. The Republican leader’s $5.1 billion net worth as of March 31, according to Forbes, bolstered his financials through stock shares, real estate equity and cryptocurrency.
Musk, on the other hand, has experienced some financial downfalls since the turn of the year. While still the world’s richest man by a lot at about $3.83 billion as of April 2, ahead of Meta CEO Mark Zuckerberg, Forbes reported that Musk’s fortune dropped about $121 billion from December to the end of March; however, recent upticks in Tesla‘s stock price have salvaged his net worth.
What To Know
Forbes reports that Trump’s financial gains are correlated with business ventures, including his Truth Social platform, his real estate investments, his golf properties and resorts, and liquid and other assets.
It was estimated that Trump’s social platform, as of March 7, accounted for $2.6 billion even though Forbes describes it as “one of the most absurd businesses in America.” In 2024, it generated sales of only $3.6 million and recorded a net loss of $401 million, including a 12 percent decrease in revenue. It stays solvent because Trump-approving traders keep boosting stock, even as shares have lost more than half their value.
Real estate investments, as well as golf clubs and properties, each total approximately $1.1 billion. Liquid assets totaled $770 million as of last month, mostly due to crypto sales prior to his election combined with selling a Washington, D.C.-based hotel.
Other assets, including his licensing and management business, aircraft, pensions and loans to his children, total about $120 million.
Trump’s legal liabilities emanating from his many legal battles over the past few years remain in limbo as the president continues to fight in court. He owes nearly $600 million in legal fees just from two New York state court cases, although payments—which continue to accrue interest—could take years as suits remain tied up in courts.
Musk’s net worth jumped from $337.7 billion on March 31 to $383.5 billion today per Forbes, though the volatility has drawn the attention of Musk himself.
Tesla has become increasingly problematic financially since it hit an all-time high of $480 per share on December 17. The brand has drawn criticism and protests nationwide and even overseas due to Musk’s consistent presence on the political scene, notably as the head of the informal Department of Government Efficiency (DOGE).
Last weekend, “Tesla Takedown” protests occurred at Tesla dealerships across the U.S. to combat Musk and his influence within the current administration.
Tesla reported 336,000 vehicle deliveries in the first quarter of 2025, a 13 percent drop from a year ago and about 30,000 fewer deliveries than investors reportedly expected, according to CNBC. This week, Tesla also reported its worst stock quarter since 2022.
Musk is estimated to have spent $25 million just this week in trying to turn the Wisconsin Supreme Court more conservative rather than progressive, including $22 million alone in support losing Republican candidate Brad Schimel. He also gave away approximately $3 million.
“The long con of the left is corruption of the judiciary,” Musk wrote Wednesday morning on X.
What People Are Saying
Tesla investor Ross Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management, to Newsweek last month: “Why has the [Tesla] board of directors sat quietly while so much brand value has been eroded to the point that cars are being set on fire? It’s been wildly negligent that the board has done nothing to curb Elon’s behavior, especially around extremist statements.”
What Happens Next
On Wednesday, Trump reportedly informed close advisers and his Cabinet that Musk will soon step away from his adviser role and role heading DOGE to adjust to a more limited role predicated to allow more focus on his businesses, according to Politico.
The post How Donald Trump’s Net Worth Change Compares to Elon Musk’s appeared first on Newsweek.
