On a single day, Elon Musk lost $29 billion after Tesla Inc. stock declined by 15% due to worries about declining sales. According to the Bloomberg Billionaires Index, Musk’s wealth as of March 11, 2025, was $301 billion, which is a year-to-date loss of $132 billion.
On March 10, Tesla’s stock dropped by 15.43%, closing at $222.15 on the Nasdaq, which is a drop of $40.52 per share. Despite this, Musk still holds the title of the world’s richest person, despite the fact that Amazon’s founder, Jeff Bezos, is close behind at $216 billion, which is $85 billion less than Musk.
The decline in Tesla’s stock price is associated with challenges in China, the world’s biggest market for electric vehicles, where it is facing competition from BYD Co. The company’s Shanghai plant saw its deliveries drop by 49% in February, which is the lowest monthly total since July 2022.
Tesla is also having a tough time in Germany, where registrations of new cars dropped by 70% in the first two months of the year. In response, analysts at UBS Group AG and Robert W. Baird & Co. have cut their delivery forecasts for the first quarter and the year for Tesla.
Joseph Spak, an analyst at UBS, expects Tesla to deliver only 367,000 vehicles this quarter, which is 16 percent lower than the previous estimate and indicates that the company is decelerating.
