Elon Musk Is Now $111 Billion Poorer, Thanks To His Best Bro Donald Trump’s Tariffs

Elon Musk is just a little bit less rich today.

Wednesday finds Musk, the world’s richest man, with his pockets approximately $110.8 billion lighter than his peak net worth of $464 billion, recorded on December 17, 2024. Forbes reported that thanks to the stock market’s screaming plummet that began Monday evening with Donald Trump’s announcement of big time tariffs on goods from Canada and Mexico, as well as additional tariffs for China, Tesla’s stock also took a hit, closing at $272.04 on Tuesday.

As a result, Musk lost $1.5 billion in one day. Surely, this was not the type of cost-cutting he was hoping to achieve with DOGE.

In the past 52 weeks, Tesla’s stock price has ranged from $138.80 per share to $488.54. The latter high came on December 17, post-election, and Tuesday’s closing marked its lowest since Trump was elected.

The potentially good news for Musk, however, is that he has Trump’s ear, and all the ethically questionable business entanglements fit to print. He is, if not always in the actual room where it happens, at least sleeping on the floor in an office across the street from that room. DOGE—which, as you’ll recall, he is legally definitely not running, no matter what you might hear from Trump himself during the State of the Union—may be bad at math, but there’s always hope of another windfall, perhaps from a Starlink deal with the FAA.

Musk may have to switch to whatever the billionaire version of generic Corn Flakes is (gold fill desk doodads with platinum plating, instead of pure platinum?), but there’s hope for his coffers yet.

What a relief.