Elon Musk’s all-in gamble on Trump’s presidency is sending shockwaves through Wall Street—and not in a good way. His net worth has just dropped below $400 billion for the first time in two months, thanks to Tesla’s falling stock price. Musk’s MAGA love affair is turning into a billion-dollar blunder.
Musk, never one to shy away from controversy, went all-in on Trump, pouring a jaw-dropping $270 million into his campaign. And his reward? A sweet gig overseeing government efficiency, the Department of Government Efficiency, DOGE. But is this a power move or a financial miscalculation?
Tesla’s Post-Election Surge and Tesla’s Shame Amongst Customers
At first, Tesla’s stock surged after Trump’s win, hitting a high of $424.77 in December—the best since 2021. People were excited about Musk’s growing fanbase, but that enthusiasm might not last. Since Tesla shares make up 60% of Musk’s net worth, his political tightrope walk could send investors running for the exits.
Many customers are even wondering if they feel “Tesla shame.” His loud support for far-right parties in Europe isn’t sitting well with a lot of people. And it’s not just talk—it’s actually hurting Tesla. A survey by Electrifying.com found that 59% of British EV owners and potential buyers said Musk’s influence would make them think twice about buying a Tesla.
Can Musk be Trusted to Oversee DOGE when His Own Companies are Under Scrutiny?
Musk has been whining that government investigations are holding Tesla back. But now, with Trump back in office, those pesky probes into Autopilot malfunctions and misleading self-driving claims could vanish faster than you can say “recall.”
Safety advocates are sounding the alarm, fearing that weaker regulations could put lives at risk. Critics like Missy Cummings, a former safety advisor, are warning that gutting safety regulations could have deadly consequences. Will Musk’s quest for innovation come at the cost of human lives?
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