Elon Musk’s wealth plummeted by $100B: Is DOGE or Tesla to blame?

Ouch. Elon Musk, the guy who seems to be everywhere, has seen his wealth shrink. Big time. We’re talking about a drop of around $102 billion in just a couple of months. What’s going on?

The main culprit? Tesla’s stock price. It’s taken a nosedive, falling roughly 35% this year. That’s a plunge from around $404 to $263 per share. The company’s total value has shrunk by almost $400 billion. And since Musk holds a ton of Tesla stock and options – about 60% of his wealth – he feels the pain.

Tesla’s Sales Slowdown

It gets worse. Tesla isn’t selling as many cars as it used to. In the U. S. , sales dipped 16% in December 2024 and January 2025. China’s numbers aren’t pretty either, with a 29% drop in January and February.

Still on Top, But. ..

Don’t feel too bad for him. Musk is still the richest person on the planet, sitting on around $330 billion, according to Bloomberg. But that lead is shrinking. Jeff Bezos (Amazon) and Mark Zuckerberg (Meta) are hot on his heels, tied for second place with $222 billion each.

The DOGE Factor?

Some experts think Musk’s other ventures might be hurting Tesla. There’s talk about his involvement with DOGE (Dogecoin) and his political views potentially alienating some Tesla buyers.

One analyst at Wedbush, Dan Ives, believes only a small percentage of Tesla’s sales are at risk. He hopes Musk will find a better balance between his different projects – Tesla, SpaceX, and DOGE – in the coming year.

What’s Next?

Will Tesla bounce back? Some analysts are optimistic. They believe the company can turn things around despite the recent slump. Only time will tell if Musk can regain his lost billions and solidify Tesla’s dominance in the electric vehicle market.