Despite significant financial losses, Elon Musk’s fortune continues to be the largest in the world. Over the course of two months, his wealth has decreased by $148 billion, now totaling $321 billion.
The primary reason for this decline is a more than 40% drop in Tesla’s stock after Donald Trump’s inauguration. Musk, known for his anti-bureaucracy stance, has also faced criticism for mass layoffs at the company, which many view as arbitrary. Traditional Tesla customers, predominantly liberal, are beginning to turn away from the company’s products, impacting sales.
In February, Tesla sold 43,650 cars, a 6% decrease compared to the same period last year. In Europe, sales have dropped by 75%, and Tesla vehicles have become targets for aggressive activists who set fire to cars and deface showrooms with slogans such as “Nazis.”
These issues are worrying investors. Specifically, investment banker Ross Gerber has suggested that Musk should step down as Tesla’s CEO, as his reputation is causing harm to the company.
