**Elon Musk’s Wealth Dips Below $300 Billion Amid Tariff Impact**
Elon Musk, the world’s wealthiest individual and a close advisor to former U.S. President Donald Trump during his second term, has seen his fortune fall below $300 billion due to the repercussions of U.S. tariffs. The recent tariff measures introduced by Trump have negatively affected global markets, including a significant decline in Tesla’s stock, which constitutes a large portion of Musk’s wealth.
As of April 8, 2025, Musk’s net worth has plummeted to $298 billion, marking a loss of $135 billion since the announcement of new tariffs last week. This decline represents the sixth-largest loss recorded on the Bloomberg Billionaires Index (BBI) as of April 7, where Musk lost $4.4 billion in a single day, following a staggering $31 billion loss on April 3 and 4. Overall, Musk has experienced a total decrease of $134.7 billion in 2025 alone.
The drop in Musk’s wealth coincides with a more than 50% decline in Tesla shares from their peak in December. In response to the tariffs, Musk expressed hope for a “free-trade zone” agreement between the U.S. and Europe, advocating for a system with zero tariffs. His brother, Kimbal Musk, has been more vocal in his criticism, stating that even if tariffs succeed in bringing jobs back to the U.S., consumer prices will remain high due to inefficiencies in domestic production.
The impact of tariffs has not only affected Musk but has also led to significant losses among other billionaires. The collective wealth of the 500 billionaires on the BBI has decreased by at least $500 billion since the tariffs were announced. On April 7 alone, the index suffered a loss of $271 billion, marking one of its worst days ever.
Among the top billionaires, Amazon founder Jeff Bezos has seen a loss of $42.6 billion, bringing his net worth to $192 billion. Facebook and Meta founder Mark Zuckerberg has lost $24.5 billion, resulting in a total wealth of $183 billion. In contrast, Warren Buffett is the only billionaire in the top ranks to have gained, adding $11.5 billion to his net worth of $154 billion. French billionaire Bernard Arnault, the fifth richest globally, has lost $26.2 billion, bringing his wealth to $150 billion.
In summary, the recent tariff measures have had a profound impact on the wealth of billionaires, particularly Elon Musk, whose fortune has dipped significantly as a result of market reactions.
**FAQ**
**Q: How have U.S. tariffs affected Elon Musk’s wealth?**
A: U.S. tariffs have led to a significant decline in Tesla’s stock and global markets, causing Elon Musk’s net worth to drop below $300 billion for the first time since November 2024.
