ABC News Daily
How Trump’s tariffs are costing Elon Musk
Apr 10, 2025
Join Wired reporter Vittoria Elliot as she dissects Elon Musk's tumultuous relationship with the Trump administration amid economic turmoil. Musk has faced a staggering $130 billion drop in net worth, largely due to Trump's tariffs impacting Tesla and SpaceX. Elliot explores the fallout from Musk's role as a government advisor and his advocacy for free trade. The podcast reveals tensions between tech giants and the political landscape, questioning whether Musk's entanglement in politics has hurt or helped his enterprises.
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Quick takeaways
- Elon Musk's net worth has plummeted due to Trump's tariffs, showcasing the impact of political decisions on billionaire wealth.
- Musk's public disagreements with Trump administration advisors indicate rising tensions in his political involvement and its implications for his business.
Deep dives
The Impact of Tariffs on Wealth
Elon Musk has experienced significant financial fluctuations due to tariffs imposed by the Trump administration, illustrating the connection between political decisions and billionaire wealth. Since the announcement of these tariffs, Musk reportedly lost approximately $31 billion, reflecting a broader trend among the country's wealthiest individuals feeling a pinch. This downturn is linked to his wealth being heavily tied to the stock values of Tesla and other ventures, which have suffered as a result. As pressures mount, Musk's public disagreements about tariffs indicate a nuanced approach to maintaining his business interests while navigating political alliances.
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