A Record-Breaking Loss

According to Business Insider, Musk’s financial situation may be even worse than it seems. The Bloomberg Billionaires Index reported that his net worth dropped to $301 billion on the evening of March 10—down from $330 billion just a day earlier. That’s a staggering $29 billion loss in a single day, marking a 6.7% decline.

The trigger? A sharp 15% drop in Tesla stock on March 10, marking its worst single-day fall since September 2020. Looking at the bigger picture, Tesla’s stock has plummeted 55% from its December 2024 peak, and Musk’s net worth has declined by $132 billion (or 30%) in 2025 alone.

Meanwhile, Tesla has faced growing backlash, with some owners even defacing their own vehicles in protest.

Public Reactions and Criticism

Musk’s financial troubles haven’t exactly earned him much sympathy. One social media user commented, “‘All his businesses?’ Nah! He’s just throwing one business—that’s publicly traded—under the bus! The rest of his businesses remain insulated and are still flourishing—being granted billions of dollars in government contracts.”

Another joked, “He did Nazi that coming.”

One more user remarked, “A rare moment of reality as he begins to suspect that most people actually hate him. It won’t last though, it never does. The delusions will be back in full swing soon enough.”

For now, despite his losses, Musk continues his efforts to streamline federal spending as the POTUS’ so-called “First Buddy.”