Elon musk net worth: The process of decline in the net worth of the world’s richest person Ilyon Musk continues. Musk’s net worth fell 15.3 billion in just 1 day to $ 346 billion due to a steep decline in Tesla’s shares on Tuesday. Two major reasons behind these latest decline in Tesla’s shares are being given. The first reason, US President Donald Trump’s One Big Beautiful Bill is being reported, after which Tesla’s profits will be directly affected. While the second reason is being explained by Ellon Musk’s formation of the new political party.
Controversy started due to One Big Buthal Bill
The controversy between Donald Trump and Ilon Musk has increased considerably due to the One Big Beautiful Bill. After the bill is implemented, tax benefits on the purchase of electric vehicles will be closed, which is sure to affect Tesla’s business. This is the reason why Musk was constantly opposing this bill. After the bill was implemented by Trump, Musk announced his new political party ‘America Party’. Tesla’s investors did not like to announce the political party by Musk. Investors feel that Musk will not be able to pay attention to the company due to being entangled in politics.
Controversy started due to One Big Buthal Bill
Recovery is seen in Tesla’s shares on Tuesday
For these reasons, Tesla shares crashed on Monday. Yesterday, Tesla shares saw a decline of up to 7 percent, after which its price fell to $ 288.77. However, on Tuesday, the company’s shares are seeing some extent recovery. Today, Tesla’s shares on Nasdaq at 11:36 pm Indian time were trading at $ 301.776 with a gain of 2.67 percent ($ 7.836) at $ 301.776. Let us tell you that Tesla shares are far below their 52 weeks high. The company’s shares have 52 weeks of high $ 488.54, while its 52 week is $ 182.00.
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