Elon Musk lost $29 billion in a single day due to a 15% drop in Tesla’s stock price, driven by economic concerns, political controversy, and intense competition, particularly in China, where Tesla’s Shanghai plant sales fell nearly 50%. Musk’s involvement with the Department of Government Efficiency sparked public backlash and investor fears, further impacting
Tesla’s stock. Despite this, Musk’s net worth remains $301 billion, but the incident highlights the volatility of his wealth and Tesla’s market position. Tesla must regain investor confidence through innovation and stronger global sales to stay competitive.
