The world’s richest man, Elon Musk, has seen his net worth decline. For the first time in two months, it is $400 billion due to a double-digit slide in Tesla Inc.’s share price.

Elon Musk Faces A Downfall In His Networth

There has been a fall of 27% in his stocks after reaching an all-time high in mid-December after the Tesla owner became close to President Donald Trump and hoped that this bond would boost the company’s fortunes.

According to the Bloomberg Billionaires Index, the American multinational automotive company covers 60% of Musk’s wealth through its stocks and options, which showed Musk a fortune of $486.4 billion on Dec. 17 in the wake of Trump’s election.

Last week, Tesla faced a fall of 11% in its shares after reporting dismal monthly sales. After 2021, this was the first time deliveries in Germany dropped 59%. Meanwhile, there was another fall of 11.5% from a year in China sales. On Monday, the shares plunged for the fourth time in a week in the New York trading, sliding 3% to $350.73.

Musk’s Politician Status

The primary source of income for Tesla stock after the elections was Musk’s political reinvention. After the inauguration day, the owner of SpaceX showed the most interest in Washington.

Musk has brought together the DOGE’s cost-cutting efforts in the three weeks since the 45th and 47th U.S. President Trump took office and upsetting The United States Agency for International Development scrutinizing the Treasury Department’s internal payments data, and leading a campaign to reduce the federal workforce by offering workers eight months of pay in exchange for their resignations.