- By Aditya Pratap Singh
- Tue, 08 Apr 2025 02:12 PM (IST)
- Source:JND
Elon Musk Net Worth: Trump's new reciprocal tariff rates are not only causing chaos among governments and industry leaders across the world but also raising alarming concerns amongst American billionaires and firms. The aftermath of what we can call 'the new tariff war, hit Trump's close ally and CEO of Tesla Elon Musk as well as the larger net worth nosedived below $300 billion for the first time since November 2024.
Musk lost billions of dollars the n last few days amid volatility in the US stock market. On Monday i.e. April 7, the global stock markets, including the US, witnessed a massive, erasing trillions of dollars of the wealth of investors around the world in one go.
Elon Musk Loses $31 Billion.
Following the development, according to the Bloomberg Billionaire Index, Elon Musk lost $4.4 billion i.e. about Rs 38,000 crore of his net worth on Monday, post Tesla's shares experienced sharp decline. Tesla's ceo's wealth shrinked by $31 billion since Trump announced tariffs on April 2, 2025. Currently, Elon Musk's net worth is $297.8 billion.
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On Monday, April 7, Musk was the sixth biggest loser on Bloomberg's World's 500 Richest People list. Overall, the index fell by $271 billion - its third-worst day ever. Global stock markets fell sharply on Monday, as China imposed a 34% retaliatory tariff on US products on Friday, raising fears of a tariff war, which can disturb the global trade order.
Musk appeals to Trump to withdraw tariff.s
Tesla CEO, who is also head of the Department of Government Efficiency (DOGE) reportedly requested US President Donald Trump to withdraw the sweeping new tariffs.
Elon Musk has publicly opposed Donald Trump's threat to impose a 50 per cent tariff on Chinese imports, but The Washington Post reports that he has directly appealed to the US president to withdraw the measures. This comes as Donald Trump said he would impose a 50 per cent tariff on Chinese goods, up from the previously announced 34 per cent.
