AsianFin -- Elon Musk’s net worth plunged by $15 billion on Monday after Tesla shares tumbled nearly 7% in the wake of his latest political move — the launch of his own political group, the “America Party.”

The sharp decline wiped about $21 off Tesla’s share price by the close of trading, as investors digested the billionaire’s increasingly public political entanglements.

The party launch marks a new chapter in Musk’s escalating feud with former ally President Donald Trump, despite Musk having contributed at least $277 million to support Trump during the 2024 campaign.

According to the Bloomberg Billionaires Index, Musk remains the world’s richest person, though his wealth has taken a significant hit since the weekend.