Tesla stock slides another 5% as more firms warn of Musk-led company’s ‘sales woes’

Tesla’s stock has dropped more than 50% since December 2024, raising concerns about slowing sales and increasing competition. Elon Musk’s wealth has decreased to approximately $320.2 billion, significantly impacted by Tesla’s share decline, according to Forbes.

In 2024, Tesla granted workers about $2.69 billion in restricted stock units and approximately $3.5 billion in stock options, per its annual report. Employees report feeling optimistic despite stock volatility, expressing confidence in the company.

The dip in Musk’s wealth coincides with his work leading the Department of Government Efficiency under the Trump administration. In that role, Musk has been tasked with drastically reducing federal spending.