AsianFin -- Elon Musk's net worth dropped below $300 billion on Monday for the first time since last year, as the combined effects of recent backlash against Tesla and new tariffs took a toll.

As of market close on Monday, Musk's wealth stood at $298 billion, according to the Bloomberg Billionaires Index. Since the start of 2025, his net worth has decreased by nearly $135 billion, or about 31%.

This marks a significant reversal for Musk, who just in December became the first person in history to surpass a net worth of $400 billion. Prior to Monday, his net worth hadn't fallen below $300 billion since November, when it was recorded at $264 billion on Nov. 6.