Elon Musk's net worth has fallen below $300billion (£235billion) for the first time in months as the Tesla founder and CEO grapples against tariffs and fears of a global recession.
Data from the Bloomberg Billionaires Index reports that Musk lost $4.4billion (£3.5billion) on Monday alone as the global stock markets adjust to President Donald Trump's sweeping tariffs.
It estimates that Musk has lost $134.7billion (£105.5billion) so far this year, with many blaming this on his alliance with President Trump and his work with the Department of Government Efficiency (DOGE).
Alongside the drop in net worth, Musk and Tesla continue to be targeted by protests across the UK, the United States and around the world.
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Elon Musk has thanked his supporters in the wake of Tesla protests around the world
REUTERS/PA
The Tesla Takedown movement has swept across the globe, with thousands taking part in protests against the businessman and his electric vehicle company.
This upcoming weekend, the UK chapter of Tesla Takedown plans to protest in London, Glasgow, Nottingham, Winchester, Leeds and Manchester.
A number of protesters also descended on a Tesla pop-up store on London's Oxford Street with signs and banners including "Honk if you hate Elon" and "No to Musk. No to Tesla. No to Fascism".
Writing on social media site X, formerly known as Twitter, Musk personally thanked those sticking by him and the brand "in the face of relentless attacks".
Tesla Takedown protests took place on Oxford Street over the weekend
PA
He added that anyone who defaces a Tesla with a swastika has "obviously" committed a hate crime, referencing a spate of attacks on his electric vehicles in France, Germany and the US.
The billionaire also noted that there was "no doubt" that shooting bullets at Tesla dealerships and burning down Superchargers were "acts of terrorism".
Speaking to Fox News, Musk said: "They basically want to kill me because I'm stopping their fraud.
"And they want to hurt Tesla because we're stopping this terrible waste and corruption in the government. I guess they're bad people and bad people will do bad things."
Elon Musk's net worth is believed to have dropped below $300billion for the first time this year
PA
It comes as the Washington Post reported that Elon Musk made a direct appeal to President Donald Trump in a last-ditch effort to reverse the controversial 25 per cent tariff on foreign car imports.
Over the weekend, Musk called for zero tariffs between the United States and Europe when attending a virtual event alongside Italy's Deputy Prime Minister Matteo Salvini.
He called for a "very close partnership" between the two sides and said the ideal move would be to "effectively create a free trade zone" between Europe and North America.
Musk previously warned that Tesla would not be immune to any tariffs imposed by the President, given the high output of its Berlin and Shanghai Gigafactories.
LATEST DEVELOPMENTS:
Donald Trump confirmed that a 25 per cent tariff would apply to all foreign car importsREUTERSIn the day following the announcement of tariffs, Tesla's stock fell by 19 per cent, wiping off almost $18billion (£14billion) off the automaker's value.
