Stocks dropped as the selling pressures that dragged Wall Street last week persisted, while investors braced for a slew of economic data reports this week.
The “Magnificent Seven” cohort — once the stars of this bull market — led the declines Monday as investors dumped the group for perceived safer plays. Tesla tumbled 13%, heading for its worst day since 2020
Having been first listed on the Forbes Billionaires List in 2012,[4] around 75% of Musk’s wealth was derived from Tesla stock in November 2020
In terms of out-of-pocket costs for the Trump presidency, Musk is paying considerably more in terms of stock losses than in the ~$300 million he donated to the campaign.
As shares of Tesla Inc. lose ground, the company’s chairman and presidential adviser Elon Musk is losing big.
Forbes, which maintains a real-time billionaire wealth tracking tool, estimates the 53-year-old was worth $342.4 billion as of the close of business Thursday, down a whopping $121.2 billion from its all-time high of $464 billion, set Dec. 17. He’s still the richest person in the world, however.
That’s not just due to Trump being re-elected and Musk’s very public role there, but it sure doesn’t help.
It is almost like our glorious leader does not know what he is doing.
https://en.wikipedia.org/wiki/Wealth_of_Elon_Musk
In terms of out-of-pocket costs for the Trump presidency, Musk is paying considerably more in terms of stock losses than in the ~$300 million he donated to the campaign.
https://www.usatoday.com/story/money/business/2025/03/09/musk-loses-billions-amid-tesla-sell-off/82137324007/
That’s not just due to Trump being re-elected and Musk’s very public role there, but it sure doesn’t help.
They make money when stocks go down when they short them.
So pretty sure he knows what he is doing.