You reap what you sow, and boy oh boy, Elon Musk has sure been sowing. After cozying up to Donald Trump, he’s been on a ketamine-powered MAGA rollercoaster of Nazi salutes as he systematically dismantles large parts of the United States government. But all actions have consequences, and – as per Forbes – Musk’s gargantuan fortune is rapidly shrinking.
He can thank his good buddy in the White House for that collapsing bank balance, as global stock market jitters due to the Trump tariffs coming into effect have seriously impacted Tesla’s worth. For example, on Dec. 17, Tesla stock was trading at a record $480 per share, but with the world waking up to what may well be a second Great Depression, they were down to $280 a share as of Mar. 4.
Up in a puff of cheeseburger-scented smoke
"Tesla just got absolutely horrible news about its sales in China" "In February, Tesla's sales in China dropped a whopping 49.2 percent compared to the previous year." futurism.com/tesla-sales-…
— Roland Smith (@rolandmcs.bsky.social) March 5, 2025 at 10:08 AM
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For Musk, this means his net worth is melting away. Yesterday alone, estimates have Musk’s fortune shrinking by $1.5 billion – and since December, he’s lost a jaw-dropping $110.8 billion. To put that into sharp focus, Microsoft founder Bill Gates – formerly the richest person in the world – has a rough net worth of $108.1 billion.
In an ironic twist, Tesla’s collapsing stock price is unambiguously a direct result of Trump’s tariffs. Tesla made $20.9 billion from China in 2024, a figure that will dwindle rapidly now that the country has responded in kind to Trump’s aggressive policies toward them. Beyond that, the company imports many Chinese components to its domestic factories, meaning that their cost of doing business is set to rise dramatically.
Tesla CFO Vaibhav Taneja sounded a gloomy note over the company’s future, saying in January: “the imposition of tariffs, which is very likely…will have an impact on our business and profitability” and underlining that Tesla is “very reliant on parts from across the world for all our businesses.” Musk himself sounded a strong note of caution in May 2024 when the Biden istration enacted tariffs on Chinese-made EVs, saying: “things that inhibit freedom of exchange or distort the market are not good.” What a difference a year makes…
The frustrating reality
All that said, while Musk’s fortune is diminishing, we’re sadly not going to see him panhandling for change any time soon. While Tesla may be facing a bleak future under Trump tariffs, stocks are still up 11% from Election Day 2024. Similarly, Musk’s other companies SpaceX and xAI remain highly valued.
Ultimately (and, believe me, annoyingly), Musk will never be truly poor. Even if every single one of his companies cratered and he began literally burning money, the lowest he could get would be “regular rich” rather than the obscene world-changing wealth he currently commands. That said, if Musk’s political controversies continue to drive down the stock price, we may see him facing pressure to disassociate himself from the day-to-day running of Tesla or ultimately be ousted altogether.
Even that might be a pipe dream, so it’s probably best to cling on to the hope that one day Musk will fall into a K-hole he can’t clamber out of. Given his increasingly erratic behavior, that fate is looking more and more likely by the day – meaning the person most likely to rid us of Elon Musk is Elon Musk. Here’s hoping he has a ive friend to whisper “c’mon dude, one more key won’t hurt!”
Published: Mar 5, 2025 10:35 am