"Elon Musk is not only the world's richest man again, but he has nearly recovered all of the wealth he lost earlier this year as Tesla's stock started climbing. As of market close on Monday, Musk's net worth was $429 billion, according to the Bloomberg Billionaires Index. That's almost as high as it was on January 1, at $432 billion."
"Tesla's share price - and its billionaire CEO's net worth - both reached their low points for the year in April, with Musk's net worth dipping as low as $290 billion. The stock price was down 45% year-to-date at its lowest point in April. That same month, Musk announced he would be stepping back from his work with DOGE in May. Investors welcomed the news, and Tesla's share price began to recover, as did Musk's wealth."
Elon Musk's net worth recovered to about $429 billion, nearly matching its January 1 level of $432 billion. Musk's wealth fell earlier after he worked with President Donald Trump on government efficiency efforts via the White House DOGE office as a "special government employee." The decline in Musk's wealth largely mirrored Tesla's share price drop as investors worried he spent too much time on politics and less on Tesla's challenges, including rising competition and falling sales. Both Tesla's stock and Musk's net worth hit April lows, with his net worth falling to $290 billion and the stock down 45% year-to-date. Musk announced stepping back from DOGE in May, prompting investor relief and partial recovery to $390 billion by late May. In June, Musk publicly clashed with President Trump on social media.
Read at Business Insider
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