According to Bloomberg, Elon Musk’s net worth has dropped below $300 billion for the first time since November. It has fallen $135 billion this year. Musk owns about 13% of Tesla Inc. (NASDAQ: TSLA), the cornerstone of his wealth. The company has a market cap of $750 billion, and the stock has fallen 42% from its 2025 peak.

Tesla’s Troubles

Several problems have hit Tesla. They recently worsened when its largest supporter on Wall Street, Wedbush analyst Dan Ives, slashed his share price forecast from $550 to $315. Tesla’s stock trades near $233. However, it was at $315 in late February. Ives commented that Tesla was in a “brand crisis tornado” and “at least 10% of its future customer base.” Ives blamed this on Musk’s work with the Trump administration.

Tesla has another challenge. In China, the world’s largest electric vehicle (EV) market, the dominant companies are local, led by BYD. Tesla’s market share there has eroded. BYD has started to expand into other countries but is blocked from the European Union and United States by tariffs. Tesla is losing market share in the United States to legacy manufacturers, including GM, Ford, and Hyundai/Kia.

Musk’s Other Companies

Other Musk holders have probably helped his overall wealth. The largest of these is the most successful rocket maker in the world. SpaceX virtually controls the U.S. rocket business and is the leader in the industry worldwide. It has established itself as the preeminent rocket launch provider, lofting satellites, cargo, and people to space for NASA, the Pentagon, and commercial partners. It is building out a large network of Starlink satellites providing internet service. Some observers believe Musk’s relationship with President Trump could help him get additional business from the U.S. government.

Musk owns 42% of SpaceX and has 79% of the company’s voting shares. He can make decisions about SpaceX without challenge. SpaceX was recently valued at $350 billion.

Among Musk’s other holdings, the most valuable may eventually be xAI, a major rival to OpenAI in the race to control the future of AI. xAI recently raised $6 billion, which puts its value at between $40 billion and $50 billion. Musk owns over half of xAI. The valuation of OpenAI recently hit $157 billion.

Musk owns parts of several other companies, including social media platform X and implantable brain-computer interface operation Neuralink.

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