A significant financial blow has reportedly struck Elon Musk, the world's wealthiest individual, as his net worth plummeted by an estimated $34 billion in a single day. This considerable loss, according to the Bloomberg Billionaires Index, occurred on Thursday, June 5, 2025, bringing his year-to-date decline to approximately $97.9 billion.
The reported catalyst for this dramatic downturn is an escalating public feud between Musk and President Donald Trump. Their exchange of words on social media has seen Trump allegedly threaten to revoke government contracts with Musk's companies, while Musk, in turn, has purportedly threatened to cease SpaceX's government work.
The financial repercussions were immediate and substantial, with Tesla's share price reportedly crashing by 14%, leading to a $150 billion loss in its market value on Thursday. Despite this considerable dip, Musk's net worth on June 6, 2025, still stands at an estimated $335 billion, maintaining his position as the richest person on the Bloomberg Billionaires Index, ahead of Meta founder Mark Zuckerberg, whose wealth is reported at $241 billion. The ongoing public dispute between these prominent figures appears to be having tangible and immediate effects on the financial markets, particularly impacting Musk's vast fortune.
