On April 10, 2025, Elon Musk experienced a staggering loss of $29 billion in a single day following a 15% drop in Tesla's stock prices, influenced by global economic uncertainty and increased competition from Chinese EV companies. Political controversies surrounding Musk's involvement with the Department of Government Efficiency (DOGE) and Donald Trump's tariff decisions added to the turmoil, illustrating the volatile connection between Musk's wealth and Tesla's performance.