The Impact of Trump's Tariff Policy: Musk's Wealth Falls Below $300 Billion.

The wealth of Tesla Inc. CEO Elon Musk has fallen below $300 billion for the first time since November, as the careless consequences of President Donald Trump's tariffs hit even those closest to him.

Musk lost $4.4 billion on Monday after Tesla's shares continued to fall, reducing his total wealth to $297.8 billion, according to the Bloomberg Billionaires Index. This follows a loss of $31 billion last Thursday and Friday. Since the beginning of this year, Musk has lost $134.7 billion.

Musk became the sixth biggest loser in the Bloomberg 500 list of the world's richest people on Monday. Overall, the index fell by $271 billion - the third worst day in history.

The decrease in Musk's wealth is a continuation of an astonishing turnaround. Tesla's shares rose after Trump's election, boosting Musk's wealth to record heights. Since then, his role as a prominent advisor to Trump has made Tesla a target for protests and vandalism at home and abroad. The polarizing behavior and activity of the billionaire CEO on social media repel potential buyers and cause Tesla car owners to distance themselves from his politics and the company's damaged brand.

The company's shares have fallen more than 50% from their record high in mid-December.

Over the weekend, Musk stated that he hopes for a 'zero-tariff system' between the US and Europe, which would effectively create a 'free trade zone'. His brother Kimbal criticized the tariffs on Monday as a 'structural, permanent tax on the American consumer'.

'Even if he manages to bring jobs back home through the tariff tax, prices will remain high, and the consumption tax will remain in the form of higher prices, as we are just not that skilled at manufacturing everything,' Kimbal Musk, a board member of Tesla, wrote in a post on X.