Tesla's Elon Musk Is Now 'Poorer' As Buyer's Remorse And Stakeholder Doubts Increase

The recent stock market downturn has taken a significant toll on the net worth of Elon Musk, the world's richest man and President Donald Trump's chief cost-cutting adviser, as Tesla shares continue to struggle.

According to Forbes' real-time estimates, Musk's fortune fell by £5.55 billion ($7.1 billion) on Tuesday, reducing his net worth to £271.65 billion ($347.7 billion). Since reaching a peak of £362.52 billion ($464 billion) on 17th December—when Tesla stock hit £375.02 ($480)—his wealth has plummeted by £90.86 billion ($116.3 billion).

Tesla's stock has been in steady decline, closing at £212.51 ($272) on Tuesday—its lowest end-of-day price since Election Day. This drop coincided with the S&P 500 falling by more than 1% to a 2025 low, as Trump's tariffs on Canada, China, and Mexico came into effect.

Losses In Perspective

To illustrate the enormity of Musk's £90.63 billion ($116 billion) loss, consider that it exceeds Bill Gates's entire net worth (£84.46 billion) and significantly surpasses that of Mukesh Ambani (£66.88 billion).

Tesla's position as a major player in the Chinese electric vehicle market, coupled with its reliance on Canadian imports for production, makes it particularly sensitive to changes in tariff policies.

In January, Tesla's chief financial officer Vaibhav Taneja warned that 'tariffs will have an impact on our business and profitability' because Tesla is 'still very reliant on parts from across the world for all our businesses.'

Tesla's Post-Election Performance

Tesla shares increased by 8% from Election Day to Tuesday, representing only a fraction of the 91% rally before 17th December. Tesla's post-election surge was fueled by Wall Street's belief that Musk's nearly £234.39 million ($300 million) donation to Trump and GOP election efforts would yield benefits, particularly by easing regulations on the company's self-driving initiatives.

Despite recent fluctuations, Musk remains £65.08 billion ($83.3 billion) richer than he was on Election Day, largely due to increased valuations of SpaceX and xAI. However, the broader picture of his wealth does little to soothe the anxieties of Tesla investors witnessing the company's stock decline.

Investor Frustration Grows Amid Tesla's Declining Shares

As Tesla's stock plunges for the sixth consecutive session, a wave of frustration is building among investors. Shareholders are now placing greater accountability on CEO Elon Musk's recent actions and decisions.

Adding to the growing shareholder frustration, the billionaire's controversial policy of requiring US federal employees to submit a weekly list of five accomplishments to justify their salaries, which he previously implemented at Twitter, is creating further negative reactions, according to a Times of India report.

With the stock in freefall, investors are now asking, 'What has Musk done for Tesla shareholders?'

The rising dissatisfaction reflects more profound anxieties regarding Musk's leadership, particularly his perceived overextension across numerous ventures, including SpaceX, Neuralink, The Boring Company, and his newly acquired role as the US government's 'efficiency czar.'

These criticisms have raised questions about his commitment to Tesla, once the undisputed electric vehicle (EV) industry leader.

Investors Demand Answers

As Tesla's stock continues its downward trajectory, frustrated shareholders are taking to X (formerly Twitter) to challenge Musk directly. Among them, celebrity photographer Jerry Avenaim posted: 'Please share five things you did for Tesla shareholders this week. Or are you working remotely? Asking for all of us.'

The post was accompanied by a visual representation of Tesla's declining stock performance, and the sarcastic query was an apparent jab at Musk's widely criticised demand for federal employees to submit weekly lists of accomplishments to validate their employment.

With their investments dwindling, Tesla stockholders now demand Musk justify his leadership using his own standards. This growing disillusionment among investors marks a stark change from the past, as previously loyal supporters now question Musk's focus and the company's future prospects.

Tesla Owners Regret Purchases Over Musk's Ties To Trump

As shareholder frustration grows, some Tesla owners in Quebec are also rethinking their loyalty, regretting their purchases due to Musk's deepening ties with the Trump administration.

At the Tesla supercharging station at Place Vertu, new Tesla owner Nabil Aitidir expressed buyer's remorse, stating, 'To be honest with you, if that happened before I bought this one, I wouldn't buy it. Just to support my country.'

That sentiment mirrors the growing popularity of bumper stickers that mock Musk, proclaiming, 'I Bought This Before We Knew Elon Was Crazy.' Matthew Hiller, creator of Mad Puffer Stickers, said in an interview from Hawaii, 'It has sustained huge numbers every day. We're talking about 500 sales per day.'

Hiller notes that since the inauguration, a significant portion of Tesla's sales have been coming from Canada. Meanwhile, in Ottawa, NDP leader Jagmeet Singh is pushing for a 100 percent tariff on Tesla vehicles.

'He thinks he can pick a fight with Canada. He thinks he can say that we should be the 51st state. We're going to hit him back,' Singh said. The backlash against Tesla has been growing globally. Last month in Germany, activists projected an image of Musk's controversial salute onto the side of a Tesla plant.

Tesla's Growing Pains

Beyond other concerns, automotive journalist Matt St-Pierre highlights the flood of new EV competition and an aging product line as significant challenges for Tesla. 'In North America, Tesla is still excessively strong. But with the competition with his rhetoric, it's going to hurt more and more,' St-Pierre said.

However, many other Tesla owners find it easier to detach their feelings about the car from their opinions of the CEO. 'I don't follow politics, but I know I've had my Tesla since two years, and I'm happy with it,' one driver told CTV News.

For those contemplating selling or boycotting Tesla, the vice-president of the Quebec Tesla owners club argues that the company's value extends beyond its CEO. 'If fighting climate change and accelerating EV adoption matters to you, then Tesla remains one of the most influential companies in the space and one of the best products in the space,' Club Tesla Quebec's Gad Elmoznino said.

'So, I think there are other ways to make your voice heard,' the top executive added. But not all agree that Tesla's value outweighs the CEO's actions. 'He does a great job on his cars. But, you know, at the end of the day, we have to protect ourselves,' Aitidir said.