Elon Musk, once the world’s richest man, has seen his empire crumble at breakneck speed. In just four months, the tech billionaire has lost a staggering $100 billion, pushing his net worth below the $300 billion mark. As Tesla stock nosedives and political backlash intensifies, the collapse of Musk’s financial stronghold is being described as one of the most dramatic wealth evaporations in modern history.
Much of the chaos stems from Musk’s appointment as head of the newly created Department of Government Efficiency (DOGE) under former president Donald Trump. Formed on January 20, DOGE was tasked with slashing federal spending and streamlining bureaucracy—but the reality has been brutal: mass layoffs, benefit cuts, and widespread panic across public services. Critics say the agency’s draconian policies have sparked national unrest, turning America and much of Europe firmly against Musk.
According to a report by RS, both DOGE and Trump are pushing for access to Americans’ private data, raising alarms over privacy violations and fears of an “enemies list” being compiled. At the same time, Musk’s aggressive cost-cutting measures have gutted critical agencies like the Social Security Administration (SSA). Whistleblowers from within the SSA are calling it a “death spiral,” warning that the system is on the brink of total collapse due to office closures, service slashes, and staff reductions.
Musk’s financial losses are piling up fast. The Bloomberg Billionaires Index reported that $4.4 billion vanished from his net worth in a single day following a nearly 9% drop in Tesla shares. With European Tesla sales plunging by over 80%, and U.S. sales slipping amid growing consumer boycotts, the company’s future looks bleak. One analyst noted, “Tesla may not recover unless Musk steps down.”
His controversial actions haven’t helped. Musk’s public embrace of far-right political figures, fascist symbols, and white supremacist groups has sparked global outrage. After photos of Tesla supporters replicating a Nazi salute went viral, many were fired from their jobs—and now, critics say Musk should face the same consequences. “He inspired them, and they were fired. Why does he still have a job?” one commentator asked.
Once defiant and emotionless, Musk has lately been seen crying in interviews—an ironic twist for someone who once mocked sympathy as weakness. “He cries only about himself,” one viewer posted. Another joked, “You can’t spell ‘Felon’ without ‘Elon.’” His image as a titan of strength has flipped almost overnight into that of a fragile, isolated billionaire surrounded by collapsing institutions and growing public disdain.
The financial fallout is jaw-dropping. Musk is now the sixth-biggest loser on the Bloomberg rich list. He’s lost over $134 billion year-to-date, with Tesla shares falling 55% from their real valuation since December. On Monday alone, global billionaires lost $271 billion, making it the third-largest single-day wipeout in recorded history—and Musk accounted for a hefty portion of that.
Meanwhile, Tesla’s stock plummeted again this week to $217.41, its worst quarterly result since 2022. As analysts slash forecasts and customers abandon the brand, Musk’s empire appears dangerously dependent on the very public sentiment he continues to provoke. Once hailed as a visionary, Elon Musk is now facing the biggest reputational and financial reckoning of his life—and from all indications, it’s going, going, gone.