Elon Musk Net Worth: Trump Tax Bill Impact
Elon Musk’s net worth has seen a dramatic $34 billion plunge, fueled by a public feud with Donald Trump. The primary_keyword, Tesla’s stock, felt the impact, dropping 14% amid the online spat.Musk criticized Trump’s “One Big Beautiful Bill,” intensifying the clash. This financial hit highlights the power of political discourse on markets and prominent figures. News Directory 3 reports on the back-and-forth, revealing how political stances affect the secondary_keyword, billionaires’ wealth. Discover what’s next for Musk and his business ventures.
Elon Musk’s Net Worth Plunges Amid Trump Feud
Updated June 06, 2025
A war of words between Tesla CEO Elon Musk and President Donald Trump on Thursday resulted in a important financial hit for musk. According to the Bloomberg Billionaires Index, his net worth plummeted by $34 billion, bringing it down to $334.5 billion.
The drop in Elon Musk’s net worth marks the second-largest single-day decline ever recorded by the Bloomberg index.The decline coincided with a 14% drop in Tesla stock, as the billionaire and the president traded barbs on social media over the One big Beautiful Bill Act.
Chief Technology Officer of X, Elon musk speaks onstage during the “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” session at the Lumiere Theater during the Cannes Lions International Festival Of Creativity 2024 (Richard Bord/WireImage / Getty Images)
Musk has been vocal in his opposition to the reconciliation package, which Trump has labeled the “Big Beautiful Bill.” He described the GOP’s bill as a “disgusting abomination” and urged Republican lawmakers to reject it, citing concerns about its impact on budget deficits.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 301.80 | +17.10 |
+6.01% |
Trump addressed the press during a meeting with German Chancellor Friedrich Merz, expressing his disappointment with Musk’s criticism. He suggested Musk was aware that Tesla’s EV subsidies could be affected.
Elon Musk speaks with President-elect Donald Trump and guests at a viewing of the launch of the sixth test flight of the SpaceX Starship, in Brownsville, Texas, U.S., on Nov. 19, 2024. (Brandon Bell/Pool/Reuters / Reuters)
Musk countered on X, stating that the bill “was never shown to me even once and was passed in the dead of night so fast that almost no one in