Bad news for Elon Musk as world’s richest man’s net worth falls to…, is closeness to Trump behind this?

Elon Musk's net worth has gone down by huge proportions over the last two to three months.

Elon Musk news: In a matter of shock for the world’s richest man, Elon Musk, his net worth has fallen below USD 400 billion for the first time in the last two months. Notably, Bloomberg Billionaires Index reported that Elon Musk’s wealth reached a maximum height of USD 486.4 billion on December 17, following the election of Donald Trump as the President of the US. For those who are unversed, Elon Musk has been labelled as one of the biggest supporters of Donald Trump’s election campaign and he is seen as someone who is very close to US President Trump.

However, since then, Elon Musk’s net worth has gone down by huge proportions. As per media reports, his net worth has gone down to USD $ 394.6 billion. The decline has notably been caused due by a sharp fall in Tesla’s stock prices, which has fallen 27% over the past 2-3 months. Various reports suggest that Elon Musk has been devoting more of his attention to the new government in Washington since Donald Trump’s Inauguration took oath. As he heads DOGE, his role includes cutting costs of the US government through various cost-cutting measures.

PM Modi likely to meet Elon Musk during US visit

Prime Minister Narendra Modi, slated to visit the United States this month to meet President Donald Trump, is also likely to see Tesla and SpaceX CEO Elon Musk. The world’s richest man is reported to be part of a select group of CEOs who will meet PM Modi on February 13.

As the chief of the newly-formed Department of Government Efficiency (DOGE), Musk is likely to advocate for a level playing field for his electric cars. He may also seek early regulatory approval to begin operations for affordable satellite internet service Starlink in the country, along with boosting collaboration with the Indian Space Research Organisation (ISRO). However, no official communication about the PM Modi-Musk meeting has been conveyed yet.

Last year, Musk had announced a delay in his India visit as earlier planned, as he faced “the moment of truth” when Tesla announced its quarterly results amid negative growth in China and massive global layoffs.

“Unfortunately, very heavy Tesla obligations require that the visit to India be delayed. But I do very much look forward to visiting (India) later this year,” Musk had posted on his X social media platform in April last year.

(With inputs from agencies)