Elon Musk Loses $33 Billion (N52.39tr) in Single Day Amid Feud with Trump

By Emmanuel Kwada

Elon Musk, the world’s richest person, has suffered a staggering loss of $34 billion in net worth due to a public feud with US President Donald Trump. The clash, which began over Trump’s “Big, Beautiful Bill,” has led to a significant drop in Tesla’s stock value.

Tesla’s shares plummeted 14.2%, closing at $284.70 after erasing over $150 billion in market value. This sharp decline is attributed to Trump’s threat to end federal contracts with Musk’s companies, including SpaceX, which has received $22.5 billion in federal contracts since 2000.

Additionally, Trump’s plan to eliminate electric vehicle tax credits, worth $1.2 billion annually for Tesla, has contributed to the stock’s decline.

While the feud with Trump is a significant factor, Tesla’s stock was already volatile in 2025, down 45% since December 2024. This suggests broader market factors may also be at play. Musk’s net worth, which once approached $500 billion after Trump’s election win, has now dropped to $334.5 billion.

Tesla’s shares plummeted 14.2%, closing at $284.70 after erasing over $150 billion in market value

Public sentiment on social media is divided, with some blaming Musk’s political stance for the loss, while others see it as a principled choice. The feud has raised concerns about the potential impact on Musk’s businesses, including SpaceX and Neuralink.

The future of Tesla and Musk’s other ventures hangs in the balance as the feud with Trump continues. With federal contracts and policy incentives on the line, the clash between the former president and the world’s richest man appears far from over.

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