Elon Musk looked emotional after being asked about his other businesses in a recent interview with Fox Business following the biggest drop in Tesla stock since 2020.
Elon Musk’s reaction to losing $29 billion in a single day has caught widespread attention. This significant financial hit reportedly happened in a 24-hour period, largely driven by a drop in the stock price of Tesla, his electric vehicle company. Despite the massive loss, Musk’s public responses often maintain a calm demeanor, focusing on the long-term vision and the bigger picture of his ventures, particularly SpaceX and Tesla’s innovations.
Musk has been known for his resilience in the face of financial ups and downs, often reiterating his commitment to advancing technology and humanity’s future, regardless of short-term setbacks. In his social media posts or interviews, he rarely lets such losses overshadow his larger goals.
While a $29 billion loss is monumental, it’s also a reminder of the volatility inherent in the stock market, especially for high-profile figures like Musk, whose wealth is often tied to stock performance.
You said:
ChatGPT said:
It seems like you’re highlighting Musk’s ability to maintain a level-headed approach despite his massive financial losses. His long-term vision for Tesla and SpaceX, combined with his track record of bouncing back from financial setbacks, makes him a fascinating figure in the business world. His calm demeanor, even in the face of such a staggering loss, likely helps him keep his focus on innovation and progress, which has been central to his success.
It’s also a great point about the volatility of the stock market. For someone like Musk, whose wealth is largely tied to stock values, these kinds of shifts are inevitable but still impactful. Despite the ups and downs, his ability to stay grounded and push for his ambitious goals is part of what sets him apart as a leader and entrepreneur.
Do you think Musk’s reaction will influence other entrepreneurs or investors who are also dealing with market volatility?
He might be the richest man in the world, but if Elon Musk keeps losing money at the rate he is, it might not be that way for much longer. Although Forbes’ live billionaire list puts Musk at over $100 billion richer than Jeff Bezos in second place, his net worth has tumbled ever since President Donald Trump stepped into the White House.
While Trump’s victory over Kamala Harris saw the world’s richest get richer, it seems it was only a temporary boost for Mr. Musk.
By embedding himself in the White House and taking a new role as the head of the Department of Government Efficiency, Musk has become more divisive than ever. Crashing Tesla stocks have led to Musk being $116 billion poorer than his peak wealth, with concerns about what happens next.
Musk had $29 billion wiped off his net worth in a single day (Bloomberg / Contributor / Getty)
Speaking to Fox Business in the aftermath of losing $18 billion in a single day, a visibly deflated Musk got candid about his current financial situation.
When asked about how he’s running his other business, Musk is lost for words and says: “With great difficulty.”
Fox’s Larry Kudlow asks whether there’s any turning back now, with Musk adding: “I’m just here trying to make the government more efficient, eliminate waste and fraud. So far, we’re making good progress.”
The mention of his other business ventures losing more money than usual has clearly struck a chord with Musk, but for now, there’s no sign of him stepping back from the DOGE.
According to Business Insider, the financials could be even worse. The site points to the Bloomberg Billionaires Index and claims Musk’s net worth dipped to $301 billion on Monday evening (March 10). Considering he was worth $330 billion on March 9, it’s a jaw-dropping $29 billion in a single day – marking a 6.7% total drop.
It was apparently triggered by Tesla‘s stock dropping by 15% on March 10, giving it the biggest single-day drop since September 2020.
Looking at the bigger picture, Tesla stock is down 55% from its December 2024 peak, while Musk’s net worth is down by $132 billion (30%) in 2025.
We’ve seen Tesla cars and facilities attacked by angry people, while some Tesla owners have even taken to defacing their own vehicles.
There wasn’t much sympathy for Musk’s latest loss, with one person responding to the clip of him, writing: “‘All his businesses?’ Nah! He’s just throwing one business—that’s publicly traded—under the bus! The rest of his businesses remain insulated and are still flourishing—being granted billions of dollars in government contracts.”
Another joked: “He did Nazi that coming.”
Someone else concluded: “A rare moment of reality as he begins to suspect that most people actually hate him. It won’t last though, it never does. The delusions will be back in full swing soon enough.”
For now, Musk is continuing his endeavours to trim the fat from federal spending as the POTUS’ very own ‘First Buddy’.
