Musk is the billionaire who lost the most money in 2025. Why?

The proximity to the new US president, Donald Trump, did not shield Elon Musk from suffering from economic uncertainties and, especially, consumer boycotts due to his involvement in politics
By Marília Almeida, Valor Investe — São Paulo
28/02/2025 13:24 Updated 2 hours ago

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Billionaire Elon Musk started the year popping champagne. His bet on Republican Donald Trump paid off, and after his support, the candidate emerged victorious in the elections. When Trump appointed him to an extragovernmental position to streamline the public sector, many people bet that the proximity would bear fruit for his businesses, such as the electric car manufacturer Tesla $TSLA; Nasdaq: $TSLA, the aerospace company SpaceX, and the startups Grok and xAI. There was this expectation mainly because Trump is in favor of market deregulation, which can help in the development of Tesla's autonomous driving system. But that doesn't seem to be happening so far.

According to the billionaire wealth list compiled by Bloomberg, Musk leads the ranking of billionaires who have lost the most money this year. So far, it has been $89.4 billion, leaving him with a wealth of $343 billion and keeping him as the richest man in the world. His losses were followed by those of executive Larry Page, former CEO of Google, but Page's loss was much smaller: $15.4 billion. Sergey Brin, former CEO of Alphabet, ranks third: he lost $14.3 billion.