Elon Musk Loses $34 Billion in One Day Amid Feud with Trump
Omoyeni Olabode
Elon Musk saw a staggering $34 billion wiped from his net worth in a single day following an escalating public clash with former President Donald Trump . This mark represents the second-largest single-day loss recorded by the Bloomberg Billionaires Index—only surpassed by his November 2021 plunge .
The dramatic financial fallout reflected a steep 14% decline in Tesla shares, erasing about $150 billion in market value . Analysts connected this plunge directly to the Musk–Trump confrontation, which intensified after Musk criticized Trump’s “One Big Beautiful Bill” package and hinted that Trump wouldn’t have won the election without him—prompting Trump to threaten to withdraw contracts and EV tax benefits essential to Tesla’s bottom line .
Despite this severe setback, Musk remains the world’s richest person, with a net worth still around $335 billion—far ahead of his nearest rival, Meta’s Mark Zuckerberg . Some market watchers have urged Musk to refocus on Tesla to stabilize investor confidence, while others warned that possible disruption in regulatory support could inflict longer-term damage to Tesla and SpaceX .
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