Elon Musk’s net worth has dropped below $300 billion, according to the Bloomberg Billionaires Index. On Monday, Musk saw an estimated loss of $4.4 billion as Tesla shares plunged, contributing to a broader global sell-off. Since the start of 2025, Tesla’s decline has wiped out a staggering $134.7 billion from Musk’s fortune, leaving him with a net worth of $297.8 billion.
This marks the first time since late 2024 that Musk’s wealth has fallen below this threshold, placing him among the day’s biggest financial losers.
The losses come amid a turbulent global market, with stock indices like the Dow and Nasdaq experiencing significant declines. The Dow dropped over 2,200 points, while the Nasdaq entered bear market territory for the first time since 2022. These declines have been attributed to new U.S. tariffs, which are continuing to affect global trade markets.
Nigerian stocks were also hit hard on Monday, suffering their largest drop in recent times due to the ripple effects of the U.S. tariffs. The Nigerian Exchange’s All Share Index (ASI) fell by 1.23 percent, resulting in a loss of about N659 billion in market value by the close of trading.
Bloomberg’s index, which tracks the world’s 500 richest individuals, experienced its third-worst day on record, with a staggering $271 billion wiped off the collective wealth of its members.
