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Tesla lost more than one-third of its value in first quarter (www.newsweek.com)

submitted 8 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Summary

Tesla's stock fell 36% in Q1 2025, closing at $259.16, down from $403.84 at the end of 2024, making it one of the S&P 500’s worst performers.

The drop follows public backlash against Elon Musk's role in Trump’s cost-cutting DOGE initiative. Protests, vandalism, and a global “Tesla Takedown” campaign targeted Musk and Tesla.

Musk’s net worth dropped $121 billion.

Ongoing market volatility, tied to Trump’s new tariff plan launching April 2, is expected to further impact Tesla and broader markets.

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[–] FuglyDuck@lemmy.world 9 points 8 months ago (1 children)

Musk’s net worth dropped $121 billion.

So... does this make him not the richest guy yet?

[–] Ilovethebomb@lemm.ee 5 points 8 months ago

God, that would be funny.