Elon Musk’s Fortune Falls Below $400 Billion for First Time This Year | Global News Avenue

Elon Musk is a man who no longer costs $400 billion. Now he is only $395 billion.

According to Musk’s net worth, it fell below $400 billion for the first time this year. Bloomberg Billionaire Index. Tesla yesterday (his net worthTSLA) Stocks are estimated to account for about one-third of their wealth, down 3%. Stocks fell 4% Tuesday morning.

Musk becomes the first to arrive Net assets of $400 billion Tesla shares soared in December after Donald Trump was re-election. Musk spent at least $277 million to support Trump’s campaign, Bloomberg Billionaire Index It was subsequently eavesdropped, responsible for the president’s efforts to cut federal spending, said the president.

Trump is trying to end administration support for the green energy transition. On his first day of his tenure, he signed an executive order to eliminate “market distortions caused by unfair subsidies and other conceived governments, which benefit electric vehicles.” In any case, investors piled up in Tesla stocks after Trump’s election, hoping that Musk’s swing with the president would benefit EV manufacturers.

Stocks are also driven by Musk’s commitment Introducing fully autonomous vehicles and Robotaxi Service this year. Musk’s relationship with Trump is expected to help Tesla clear regulatory barriers to launch self-driving cars.

Musk’s second largest asset is his stake in SpaceX, a private space exploration company. Bloomberg Musk is estimated to own about 42% of the company, worth nearly $350 billion recently.

Forbes, which maintains a real-time billionaire wealth tracker, had a net worth of $384 billion as of Tuesday morning.