Elon Musk's net worth dips $34 billion overnight amid public spat with Donald Trump

The public feud between U.S. President Donald Trump and his former supporter, Elon Musk, can make the Tesla CEO lose billions.

The price of Tesla shares crashed 14% and lost $150 billion in market value overnight on Thursday amid the feud. As a result, Elon Musk's net worth took a significant hit.

On June 6, 2025, the net worth of Elon Musk dropped nearly $33.9 billion in a day, according to the Bloomberg Billionaires Index, while it fell around $97.9 billion on a year-to-date basis.

The fallout between Donald Trump and Elon Musk

The public spat between President Donald Trump and Elon Musk started after the Tesla CEO expressed his disappointment over the "big, beautiful bill".

The feud between the world’s richest man and the world’s most powerful politician could mean Tesla’s plans for self-driving cars hit a roadblock, SpaceX flies fewer missions for NASA, Starlink gets fewer overseas satellite contracts, as well as the social media platform X loses advertisers.

US President Trump and billionaire Elon Musk, who were once allies, are currently embroiled in a bitter, public spat.

In 2016, mutual interests between the two started a high-stakes partnership characterised by campaign backing, advisory positions and combined leverage over US policy.

However, their friendship has touched a new low recently, with insults, threats and calls for impeachment being made in public.

During the 2024 US presidential race, the Tesla CEO openly endorsed President Donald Trump. After returning to the White House for a second term, Trump even included Musk in his government to serve as co-lead of the Department of Government Efficiency (DOGE).

However, the billionaire CEO left the White House in late May 2025 following Trump's extensive tax and domestic policy plan.

The people have spoken. A new political party is needed in America to represent the 80% in the middle!

And exactly 80% of people agree 😂

This is fate. https://t.co/JkeOlG7Kl4

— Elon Musk (@elonmusk) June 6, 2025

Russian official takes a dig

Incidentally, Kirill Dmitriev, a close aide of Russian President Vladimir Putin, took a jibe at the spat.

He wrote on X, “In 2024, Elon Musk bet his entire $300B+ fortune on supporting Trump and helping save the US. Today, Tesla crashed 14%. $150B gone. $30B wiped from Musk’s net worth. No hedge. No fear. Just conviction. Tomorrow?”

He went further, asking the Musk-owned platform's AI chatbot Grok what needed to happen for Trump and the billionaire entrepreneur to reconcile.

Grok suggested private talks and public apologies for personal attacks. “However, their escalating conflict and public barbs suggest reconciliation is unlikely soon.”

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