Elon Musk's fortune has fallen by more than $110 billion to $342.5 billion due to Trump's tariff policy, Forbes reports.
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Musk's net worth has fallen by $121.5 billion from the record $464 billion on Dec. 17, when Tesla shares hit an all-time high of $480 a share. That's more than the total wealth of the world's 10th-richest person, former Microsoft CEO Steve Ballmer ($119.1 billion).
Tesla's share price decline is being attributed to Donald Trump's new tariffs on Canada, China and Mexico, which have weighed on investor sentiment. Tesla shares were trading just above $260 on Thursday, down 47% from their all-time intraday high last year.
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