His net worth stood at about $433 billion before the recent drop, Newsweek reported, but fell to around $418 billion, rebounding slightly to $424 billion by Tuesday.

Tesla ( TSLA -3.58%) shares initially shrugged off a weak earnings report before the stock got caught in the trade-war sell-off. The electric vehicle (EV) maker had a tough year in 2024, although Chief Executive Officer Elon Musk continues to be very upbeat about the future.

Elon Musk's net worth has declined since Donald Trump took office, primarily due to the impact of new tariffs on his companies.