Elon Musk Loses ₹32 Trillion, Slips to 10th Richest Amid Trump Feud

International News: Elon Musk’s net worth plummeted by an estimated ₹32 trillion ($381 billion), dropping him to the 10th spot on Bloomberg’s Billionaires Index, a dramatic fall from his position as the world’s richest person. The massive loss, reported by sources stems from a public feud with President Donald Trump over a $2.42 trillion spending bill, which Musk labeled a “disgusting abomination.” The conflict triggered a 14% crash in Tesla’s stock, wiping out $150 billion in market value, compounded by Trump’s threats to cut federal contracts for Tesla and SpaceX. Many Posts
, highlight the financial toll of this clash, which also saw Musk briefly threaten to decommission SpaceX’s Dragon spacecraft before reversing course. The episode underscores the high stakes of Musk’s political interventions as he navigates tensions with the administration he once supported.

A Costly Public Spat

The feud erupted when Musk criticized Trump’s spending bill, projecting a $2.42 trillion deficit increase over a decade, particularly opposing the elimination of electric vehicle (EV) tax credits critical to Tesla’s profitability. Trump retaliated on Truth Social, threatening to terminate Musk’s government contracts, which include $22.5 billion in federal deals for SpaceX and Tesla since 2000. The tit-for-tat escalated with Musk’s provocative X posts, including references to Trump’s alleged ties to Jeffrey Epstein, fueling a 14% Tesla stock drop on June 5, 2025. This erased $34 billion from Musk’s wealth in a single day, the second-largest daily loss in Bloomberg’s history, surpassed only by his 2021 wipeout. Despite a 3.7% stock recovery on June 6, Tesla’s year-to-date 22% decline reflects broader challenges, including slowing EV demand and Musk’s polarizing political stance, which has sparked protests and vandalism against Tesla.

Broader Impacts and Future Risks

Musk’s wealth, now estimated at $302 billion, remains substantial but faces ongoing risks. The feud threatens SpaceX’s NASA contracts and Tesla’s growth, with JPMorgan estimating a $1.2 billion profit hit from the EV tax credit cut. Musk’s other ventures, like xAI and Neuralink, could face regulatory scrutiny, as Trump hinted at FDA action. X posts, like @fns_francis
, note short sellers gained $4 billion from Tesla’s crash, signaling investor unease. Musk’s attempt to de-escalate, aligning with Bill Ackman’s call for peace, has not fully restored confidence. His announcement of “The America Party” suggests a pivot to political influence, but analysts warn that continued clashes could further erode his empire. As Tesla’s market cap hovers near $917 billion, Musk’s financial and political gambits will shape his legacy in a turbulent 2025.