Elon Musk’s net worth has fallen below $300 billion.
According to the Bloomberg Billionaires Index, Musk lost an estimated $4.4 billion on Monday as Tesla shares tumbled alongside the broader global sell-off.
The electric vehicle company’s decline contributed to a total wipeout of $134.7 billion from Musk’s fortune since the start of 2025.
He now ranks among the day’s biggest losers, slipping to $297.8 billion in net worth.
The loss was recorded for the first time since late 2024.
This is as global markets are yet to recover from new U.S. tariffs.
Global stock markets, including the Dow and Nasdaq, plunged on Monday, with the Dow losing over 2,200 points and the Nasdaq entering bear market territory for the first time since 2022.
Nigerian stocks also crashed on Monday, recording their biggest drop in recent times following the impact of U.S President Donald Trump’s tariffs on global trade markets.
Investors lost about N659 billion at the close of trading after the Nigerian Exchange’s All Share Index (ASI) decreased by 1.23 percent, its biggest single-day decline this month.
Bloomberg’s index tracking the world’s 500 richest people fell by a staggering $271 billion its third-worst day on record.
