Elon Musk’s net worth has dropped below $300 billion for the first time since late 2024, according to the Bloomberg Billionaires Index.
Gatekeepers News reports that on Monday, Musk experienced a loss of approximately $4.4 billion as Tesla shares fell alongside a broader sell-off in global markets. Since the beginning of 2025, Musk’s fortune has decreased by a total of $134.7 billion.
On the same day, global stock markets faced significant declines, with the Dow losing over 2,200 points and the Nasdaq entering bear market territory for the first time since 2022.
The downturn is attributed to the ongoing effects of new U.S. tariffs impacting global trade.
In Nigeria, the stock market also experienced a sharp drop, marking its largest decline in recent times due to the U.S. tariffs.
The Nigerian Exchange’s All Share Index (ASI) reported a decrease of 1.23 percent, resulting in an estimated loss of about N659 billion for investors at the close of trading.
Also, Bloomberg’s index tracking the world’s 500 richest individuals fell by an astounding $271 billion, marking its third-worst day on record.
