Tesla Stock Plummets 50%; Elon Musk loses $29 billion in single day

NEW YORK: As Tesla's share price nosedived in the US stock market on Monday, the wealth of Elon Musk, one of the world's richest people, fell by $29 billion in a single day. Musk's total wealth fell from $330 billion on Sunday to $301 billion on Monday evening. There was a 6.9 percent decline in wealth on Monday alone. Elon Musk's wealth had reached a record high of $486 billion in December last year. So far this year, his wealth has fallen by $132 billion. The decline in stock prices is due to a sharp drop in sales of Tesla cars in Europe and China.

Here’s a look at top five tech giants who lost billions since January 2025.

Name Total Net Worth Last Change YTD Change

Elon Musk (Tesla) $301 billion -$29 billion -$132 billion
Larry Ellison (Oracle) $169 billion -$7.26 billion -$23.2 billion
Jeff Bezos (Amazon) $216 billion -$4.21 billion -$22.5 billion
Jensen Huang (NVIDIA) $94 billion -$4.91 billion -$20.3 billion
Michael Dell (Dell) $104 billion -$2.61 billion -$20.1 billion