nuNov 6, 2026, 08:20

Musk loses over 100 billion dollars after Republican election defeat

Elon Musk lost over 100 billion dollars in wealth following the recent US midterm elections as share prices for Tesla and SpaceX fell significantly. Investors fear that Democratic election gains may result in increased restrictions on artificial intelligence and data center operations.

Elon Musk has seen his personal wealth drop by over 100 billion dollars in just two days following the results of the recent midterm elections. According to the Bloomberg Billionaires Index, Musk lost 33.5 billion dollars on Wednesday and nearly 80 billion dollars on Thursday. The significant decline in his fortune is primarily linked to sharp drops in the share prices of his companies, Tesla and SpaceX, which lost 11 percent and 8 percent of their market value respectively. Investors are concerned that the Democratic Party's election success could lead to stricter regulations on artificial intelligence development and the expansion of energy-intensive data centers.

Musk is not the only billionaire impacted by the market downturn, as Amazon founder Jeff Bezos also lost approximately 5 billion dollars. Other prominent tech leaders, including NVIDIA's Jensen Huang and Oracle's Larry Ellison, experienced similar financial losses. Despite this massive reduction, Musk retains his position as the world's wealthiest individual, with a total net worth still double that of Bezos, who holds second place.

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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