Elon Musk Faces a Rough Patch as Tesla’s Stock Crashes
Tesla’s stock has taken a serious hit, and Elon Musk is feeling the impact. His net worth has plummeted as the market reacts to Wall Street’s unpredictable moves.
Trump Steps In to Defend Musk
Seeing Musk under pressure, Donald Trump took to Truth Social to show his support. He claimed that the “Radical Left Lunatics” are targeting Musk and his beloved Tesla.
Tesla’s Stock Has Plummeted More Than 50%
The stock’s decline ties directly to economic uncertainty and shifts in U.S. trade policy. Musk is taking the brunt of the financial fallout.
Last week alone, he lost nearly $9 billion as Tesla’s stock tumbled. By Thursday, Tesla’s stock had dropped another 6%, wiping out $8.8 billion from Musk’s fortune. His wealth has fallen from $464 billion in December to $342.8 billion.
Since December, Tesla’s stock has plunged over 50%, leaving investors and analysts stunned.
From a Record High to a Shocking Low
In mid-December 2024, Tesla’s stock soared to nearly $480 per share. By early March 2025, it had crashed to about $220, erasing over $800 billion in market value—the steepest decline Tesla has seen in years.
Musk Juggles Tesla and Government Duties
Musk’s role extends beyond Tesla. As the newly appointed head of the Department of Government Efficiency (DOGE), he’s focused on cutting government spending. His aggressive cost-cutting measures include reducing the federal workforce.
Musk Opens Up About the Challenges
Tesla’s stock plunge has taken a toll on Musk. In a recent Fox Business interview with Larry Kudlow, Musk appeared stressed and emotional as he discussed Tesla’s struggles.
Balancing multiple businesses is proving difficult, especially with Tesla experiencing its worst stock drop in over three years. On top of that, a global slowdown in electric vehicle sales is adding to Musk’s headaches.
Trump’s Unwavering Support
Despite the setbacks, Trump remains one of Musk’s biggest supporters. In recent days, he has made multiple statements defending the Tesla CEO.
Trump Turns the White House Into a Tesla Showroom
March 10 was particularly rough for Musk. That day, Trump urged his followers to rally behind Tesla.
“To Republicans, Conservatives, and all great Americans, Elon Musk is ‘putting it on the line’ to help our Nation, and he is doing a FANTASTIC JOB!” Trump posted. “The Radical Left Lunatics are trying to boycott Tesla and hurt Elon. I’m buying a brand-new Tesla tomorrow to show my confidence and support for Elon Musk, a truly great American.”
Trump, who once dismissed electric cars, took things a step further. On March 11, he showcased several Tesla models at the White House. During the event, he publicly praised Musk and pledged to stand by him.
“I’m going to buy a brand-new Tesla,” Trump told reporters. “At full price.”
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