In a recent Fox Business interview, Elon Musk appeared visibly emotional when asked about the state of his other businesses, following the most significant drop in Tesla stock since 2020. Despite being one of the richest men on the planet, Musk’s financial trajectory is rapidly shifting, and if he continues to lose wealth at this rate, his position at the top may be in jeopardy. According to Forbes’ live billionaire list, Musk remains over $100 billion wealthier than Amazon founder Jeff Bezos, who holds second place. However, Musk’s net worth has been on a downward spiral ever since the shift in U.S. political leadership, and the future seems uncertain for the tech mogul.

While the rise of Donald Trump to the presidency initially fueled the fortunes of the world’s wealthiest individuals, including Musk, it appears that any financial boost he received during that period was short-lived. As the president surrounded himself with business leaders, Musk found himself embroiled in political matters, stepping into new roles that some have questioned. One of the key positions Musk took was leading the newly-formed Department of Government Efficiency. However, this move has made him a more divisive figure than ever before. The resulting impact on Tesla’s stock price has been dramatic, leaving Musk with a staggering $116 billion less in net worth than his peak. The question now being asked by investors, analysts, and the public alike is: what comes next for Elon Musk?

Musk’s wealth took a significant hit when he lost $29 billion in a single day. This blow was enough to make even the most resilient billionaire feel deflated. According to Bloomberg’s reporting, Musk’s net worth fell from an estimated $330 billion on March 9 to just $301 billion by the evening of March 10, marking a 6.7% decrease in his wealth. This loss was triggered by a 15% drop in Tesla’s stock on March 10—the largest one-day drop since September 2020. The significant fall in Tesla’s stock price, combined with broader concerns about Musk’s other ventures, has caused widespread anxiety about his financial stability and future endeavors.

Tesla stock has now fallen 55% from its peak in December 2024, and Musk’s net worth has dropped by $132 billion, a staggering 30% reduction in the first few months of 2025 alone. The implications of this decline have been far-reaching, with many speculating about the causes and the broader effects it will have on Musk’s other businesses. The drop in Tesla’s stock price is not an isolated incident. Over the past year, Tesla has faced mounting public backlash, with its vehicles and facilities targeted by angry individuals, some even defacing their own Tesla cars in protest. These events have shaken investor confidence, and the world is closely watching to see whether Musk can navigate his way out of this financial storm.

When Musk spoke with Fox Business after losing $18 billion in one day, he gave a candid and somewhat somber response when asked about how he’s managing his other business operations. A visibly deflated Musk responded, “With great difficulty,” reflecting the weight of the situation and the pressure mounting on his shoulders. His usual charismatic demeanor seemed absent as he acknowledged the struggles his companies are facing. Larry Kudlow, the Fox Business host, pressed Musk on whether there was any turning back, to which Musk responded: “I’m just here trying to make the government more efficient, eliminate waste and fraud. So far, we’re making good progress.” Despite the financial setbacks, Musk has remained focused on his political and economic initiatives, even as his companies battle significant financial turbulence.

Musk’s frustration was palpable during this interview, especially when discussing the financial challenges his businesses are grappling with. For now, however, there seems to be no indication that Musk is planning to step back from his ventures or his new role within the government, particularly as the head of the Department of Government Efficiency. While some might expect him to retreat from his political endeavors in light of the financial pressure, Musk’s resolve appears unwavering. His focus seems to remain on the bigger picture, despite the significant losses his wealth has suffered.

Reports from Business Insider have painted an even more concerning picture of Musk’s financial situation. The Bloomberg Billionaires Index revealed that Musk’s net worth had dipped to $301 billion as of March 10, down from $330 billion the day before. This 6.7% decrease in his net worth in a single day underscores the severity of the current financial climate for Musk. Tesla’s stock is largely to blame, with the carmaker’s shares dropping 15% on March 10—the largest one-day drop in over four years. This sharp decline is a clear indication that investors are losing confidence in Musk’s leadership and the future trajectory of Tesla.

The situation has become increasingly dire as the year progresses. Tesla’s stock has now plummeted 55% from its December 2024 high, and Musk’s total net worth has fallen by a jaw-dropping $132 billion—equating to a 30% loss in 2025 alone. The impact of this financial decline has been felt across the globe, particularly as Tesla’s vehicles and facilities have been attacked by angry protesters and, in some cases, even defaced by Tesla owners themselves. This reflects a growing discontent with the company and its founder, as well as a potential loss of confidence in Musk’s leadership.

Despite the financial troubles and the backlash against his companies, Musk has continued to focus on his other ventures, particularly his role in government. Musk’s work at the Department of Government Efficiency, where he has been trying to reduce waste and improve efficiency, has provided him with a platform to continue advocating for change. However, the public perception of Musk is increasingly divided. Many critics argue that his ventures in government are only serving to insulate his wealth from the problems at Tesla, with one person writing, “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.”

Others have taken to social media to make light of Musk’s troubles. One user joked, “He did Nazi that coming,” poking fun at Musk’s unpreparedness for the dramatic financial drop. Another person commented, “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.” These remarks highlight the widespread criticism Musk faces, even as his businesses continue to attract significant government contracts and financial backing.

While Musk’s businesses are facing their fair share of adversity, he remains undeterred. Despite the mounting challenges, Musk is continuing his efforts to trim federal spending and eliminate inefficiencies as the “First Buddy” to the President. While public sentiment may be turning against him, Musk’s determination to forge ahead with his agenda is as strong as ever.

In the face of enormous financial losses, social backlash, and mounting scrutiny, Elon Musk is holding firm. Whether he can regain his financial footing and continue to lead his companies to success remains to be seen. The next few months will likely determine whether Musk’s wealth can recover, or if his time as the world’s richest man is nearing its end.