The net worth of some of America’s billionaires, including Elon Musk, has plummeted by approximately $10 billion each day since February.
Musk's net worth has dropped from $433 billion to $349 billion. Zuckerberg's worth dropped from $232 billion to $243 billion. Larry Ellison lost close to $9 billion.
Tesla's revenue increased by 2.1%, but still below market forecasts. Musk's involvement in politics and the launch of the DeepSeek chatbot are seen as contributing factors.
The net worth of Larry Page, Michael Dell, and Larry Ellison declined by billions due to the impact of the DeepSeek chatbot.