Elon Musk’s fortune has taken a massive hit as Tesla’s stock continues to slide, wiping out nearly $80 billion from his net worth this year. Despite retaining his title as the world’s richest man, another sharp decline in Tesla’s share price could see him lose that crown.
Tesla shares have faced mounting pressure due to slowing EV demand, intensifying competition from Chinese automakers, and investor concerns over Musk’s distractions with other ventures, including SpaceX and X (formerly Twitter). The electric car maker’s valuation has dropped significantly, eroding Musk’s wealth, which is heavily tied to Tesla’s stock performance.
Analysts warn that if Tesla’s struggles persist, Musk’s net worth could fall behind rivals like Bernard Arnault, the LVMH luxury goods magnate, who has been trailing him closely in the global wealth rankings. 
Despite the downturn, Musk has remained confident in Tesla’s long-term prospects, touting upcoming advances in AI-driven autonomy and next-generation battery technology. However, investors are watching closely, as another $80 billion downturn could trigger a seismic shift at the top of the billionaire leaderboard.
For now, the fate of Musk’s fortune remains tightly bound to Tesla’s ability to weather its current challenges and reignite investor confidence.
