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<\/p>\nElon Musk is having a rough time lately, especially with Tesla\u2019s stock taking a serious hit.<\/p>\n
In fact, his friend Donald Trump had to step in and defend him on Truth Social, claiming that \u201cthe Radical Left Lunatics\u201d are trying to hurt \u201cElon\u2019s \u2018baby.\u2019\u201d<\/p>\n
Has plummeted more than 50%
\nThe drama is all tied to some wild moves on Wall Street, much of it sparked by Trump\u2019s unpredictable changes in U.S. trade policy.<\/p>\n
And Musk, unfortunately for him, is taking a massive financial hit.<\/p>\n
Last week, Musk lost nearly $9 billion as Tesla\u2019s stock crashed. By the end of Thursday, Tesla\u2019s stock had dropped 6%, wiping out $8.8 billion from Musk\u2019s net worth. His fortune dropped from $464 billion in December to just $342.8 billion.<\/p>\n
Tesla\u2019s stock has plummeted more than 50% since December, shocking both shareholders and analysts.<\/p>\n
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In mid-December 2024, the stock was near an all-time high of around $480 per share. By early March 2025, it had dropped to about $220, wiping out over $800 billion in market value \u2014 the biggest decline Tesla has experienced in years.<\/p>\n
Tesla\u2019s recent drop in stock value lines up with the time Elon Musk spent during Donald Trump\u2019s presidency. As most people know, the founder of Tesla and SpaceX, Elon Musk, has been appointed head of DOGE (the newly-formed Department of Government Efficiency). His mission is to cut costs wherever possible.<\/p>\n
On paper, his goal is to eliminate what he views as wasteful spending of taxpayers\u2019 money, and to achieve this, he has started working on dramatically reducing the federal workforce.<\/p>\n
It\u2019s clear that Tesla\u2019s decline has taken a toll on Elon Musk. In a recent interview with Larry Kudlow on Fox Business, the Tesla CEO seemed visibly stressed and emotional when discussing the challenges his companies are facing.<\/p>\n
Musk opened up about the difficulty of managing multiple businesses, admitting it was becoming increasingly tough, especially as Tesla\u2019s stock hit its biggest drop in over three years.<\/p>\n