Musk lost $34 billion in a day due to conflict with Trump

American entrepreneur and former head of the Department of Government Efficiency of the United States (DOGE), Elon Musk, lost $34 billion in one day due to a conflict with US President Donald Trump. This is evidenced by the data of the Bloomberg Billionaires Index updated on June 6. (Bloomberg Billionaire Index)

Musk's fortune is now estimated at $334.5 billion, but he still ranks first on the list of the richest people in the world. So, in 2025, the American entrepreneur lost $97.9 billion.

On June 3, Elon Musk criticized the draft budget proposed by the administration of US President Donald Trump. The entrepreneur called it an "abomination" and added that the project would significantly increase the budget deficit to $2.5 trillion and impose an unbearable debt burden on American citizens.

In response, Trump said on June 5 that he was extremely disappointed with the entrepreneur after his harsh statements. The American leader suggested that Musk was upset about the cancellation of the White House's mandate for electric vehicles.