The net worth of some of America’s billionaires, including DOGE director Elon Musk, has plummeted by approximately $10 billion each day since February, Fortune reports.
In January 2025, the pockets of tycoons like Meta’s Mark Zuckerburg, Amazon’s Jeff Bezos, and Musk—all present at the 2025 inauguration—were starting to grow by a figure correlated to the salary of 15 million workers, $314 billion. However, the dream began to deflate in February.
Some have seen a vast decline in their net worth. While Musk’s net worth once sat at $433 million; it has dropped to $349 billion. Zuckerberg’s worth dropped to $243 billion from $232 billion. Larry Ellison, co-founder of Oracle, lost close to $9 billion. Out of the tech tycoons, Musk, a key player in the Trump administration, has lost the most so far in 2025: $11.3 billion, according to Newsweek.
His company, Tesla, is also taking a steep hit. While it was reported that $25.7 billion in revenue was up by 2.1% from the same period in 2024, the number is still below market forecasts. Economy experts feel his heightened involvement in politics is one factor in addition to the launch of the DeepSeek chatbot, a revolutionary Chinese AI model that wiped billions off the stock market.
“We believe [Tesla’s] fundamentals remain secondary vs. the broader theme of narrative command for Tesla, which has gone into hyperdrive since the US Elections last November,” a recent report from a Barclays analyst said.
DeepSeek’s dominance took close to $94 billion from the pockets of some of the richest people around the world. The net worth of Google founder Larry Page dropped $6.3 billion. Ellison lost his ranking of third richest to fifth after taking a personal loss of $27.6 billion due to Oracle’s stock dropping 14%. Dell Technologies CEO Michael Dell also lost $12.4 billion.
The numbers may look staggering to those working nine to five, but for the billionaires, it’s seemingly chump change. As Musk works throughout the White House, he is still looked at as one of the richest men to ever live despite taking a $90 billion deficit.
Amid Musk’s controversial salute at Trump’s inauguration, which many compared to a Nazi salute, Tesla has a market cap of close to $1.25 trillion, making it the eighth most valuable company in the world.
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