Elon Musk's net assets falls below 300 billion USD

According to Bloomberg Millionaires Index, Elon Musk's net assets have dropped below 300 billion US dollars. On Monday, Musk recorded an estimated loss of $ 4.4 billion when the Tesla shares dived and contributed to a wider global sale. Since the beginning of 2025, Tesla's decline has wiped out astonishing 134.7 billion US dollars from Musk's assets and left him a net assets of $ 297.8 billion.

This is the first time since the end of 2024 that Musk's assets fell under this threshold and has laid it to the greatest financial losers of the day.

The losses come in the middle of a turbulent global market, with stock indices such as Dow and Nasdaq record considerable declines. The Dow fell by over 2,200 points, while Nasdaq entered the bear's market area for the first time in 2022. These declines have been attributed to new US tariffs that continue to influence the global trading markets.

Nigerian stocks were also hit hard on Monday, which has recently had its greatest decline lately due to the wave effects of the US tariffs. The All Share Index (ASI) of the Nigerian Exchange fell by 1.23 percent, which led to a loss of around 659 billion market value until the commercial degree.

The Bloomberg index, in which the 500 richest people in the world followed, experienced its third day, with the surprising $ 271 billion out of the collective assets of its members.