Elon Musk, the CEO of Tesla Inc. (NASDAQ:TSLA), has seen his net worth plunge below the $300 billion mark. This significant decrease is linked to the ongoing backlash against Tesla and the implementation of new tariffs.

Elon Musk has himself become a casualty of Donald Trump’s chaotic tariff rollout. The Tesla CEO’s net worth dipped below $300 billion for the first time since November, when Trump won re-election. Musk lost $31 billion across Thursday and Friday last week,

Trump's third bid for the White House resulted not just in him reclaiming his seat in the Oval Office but also in increasing his net worth by nearly double within the past year. The Republican leader's $5.1 billion net worth as of March 31, according to Forbes, bolstered his financials through stock shares, real estate equity and cryptocurrency.