Elon Musk appeared visibly emotional during a recent interview with Fox Business, following Tesla’s largest stock drop since 2020.
Despite being the world’s richest man, Musk’s fortune is shrinking at an alarming rate. While Forbes still lists him as more than $100 billion ahead of Jeff Bezos, his net worth has been on a downward spiral ever since President Donald Trump entered the White House.
Although Trump’s election victory over Kamala Harris initially benefited many of the world’s wealthiest individuals, that boost seems to have been short-lived for Musk.
Now holding a key role as the head of the Department of Government Efficiency (DOGE), Musk has become more polarizing than ever. The recent Tesla stock crash has wiped $116 billion from his wealth, leaving investors and analysts questioning what comes next.
“With Great Difficulty”
In an interview with Fox Business after losing $18 billion in a single day, Musk appeared deflated when discussing his financial situation.
When asked about how he’s managing his other ventures, he hesitated before responding, “With great difficulty.”
Fox’s Larry Kudlow then pressed him on whether there was a way to turn things around. Musk replied, “I’m just here trying to make the government more efficient, eliminate waste and fraud. So far, we’re making good progress.”
However, the mention of his struggling businesses seemed to strike a nerve. Despite the losses, there’s no sign of Musk stepping away from DOGE anytime soon.
A Record-Breaking Loss
According to Business Insider, Musk’s financial situation may be even worse than it seems. The Bloomberg Billionaires Index reported that his net worth dropped to $301 billion on the evening of March 10—down from $330 billion just a day earlier. That’s a staggering $29 billion loss in a single day, marking a 6.7% decline.
The trigger? A sharp 15% drop in Tesla stock on March 10, marking its worst single-day fall since September 2020. Looking at the bigger picture, Tesla’s stock has plummeted 55% from its December 2024 peak, and Musk’s net worth has declined by $132 billion (or 30%) in 2025 alone.
Meanwhile, Tesla has faced growing backlash, with some owners even defacing their own vehicles in protest.
Public Reactions and Criticism
Musk’s financial troubles haven’t exactly earned him much sympathy. One social media user commented, “‘All his businesses?’ Nah! He’s just throwing one business—that’s publicly traded—under the bus! The rest of his businesses remain insulated and are still flourishing—being granted billions of dollars in government contracts.”
Another joked, “He did Nazi that coming.”
One more user remarked, “A rare moment of reality as he begins to suspect that most people actually hate him. It won’t last though, it never does. The delusions will be back in full swing soon enough.”
For now, despite his losses, Musk continues his efforts to streamline federal spending as the POTUS’ so-called “First Buddy.”
