Elon Musk’s Wealth Plunges by $15 Billion as Wall Street Warns Him to Steer Clear of Washington

According to a report by Jinse Finance, after Elon Musk threatened over the weekend to establish a third U.S. political party, the "American Party," Tesla (TSLA.O) shares plunged nearly 7% on Monday, causing the world's richest man's net worth to shrink by about $15 billion in a single day. Investors are concerned that his companies may lose federal subsidies due to conflicts with Trump, which could lead to further obstacles. According to Forbes estimates, with Tesla's market value decline, Musk's personal wealth now stands at $391 billion, down from $405 billion the previous day. Despite the drop, he still maintains a lead of over $100 billion compared to the second-richest individual. (Jin10)