Musk's fortune decreased by $110.8 billion due to the fall in Tesla shares

The state of the entrepreneur and head of the Department of State Efficiency (DOGE) USA Elon Musk's stock has decreased by $110.8 billion since December last year amid a decline in shares of Tesla, an electric car manufacturer. This was reported on March 6 by the magazine Forbes.

According to the publication, the company is suffering losses due to the imposition of duties by the United States of 25% against Mexico, Canada and China. It is noted that China was the second largest market for electric vehicles. The company also used the import of spare parts from Canada.

In addition, after the increase in duties on Chinese goods, Tesla shares fell by 15%. At the moment, Musk's fortune is estimated at $ 353.2 billion.

Earlier, on February 25, it was reported that sales of Tesla electric vehicles in January 2025 decreased by 45% across all European countries, while the number of registrations of new electric vehicles from competitors increased sharply.

Prior to that, on February 6, the Financial Times newspaper described the sharp decline in sales of Tesla electric cars in Europe as a manifestation of the negative reaction of society to Musk's interference in European politics.

On February 1, Trump signed a decree on the introduction of trade tariffs in the amount of 25% on goods from Canada, China and Mexico. Canadian Prime Minister Justin Trudeau called the introduction of US duties href="https://iz.ru/1848836/2025-03-04/triudo-nazval-vvedenie-poshlin-ssha-nachalom-torgovoi-voiny-protiv-kanady?main_click"> the beginning of a trade war against the country.