On Monday, users of X reported widespread outages. The same day, Tesla’s stock fell more than 15 percent amid concerns that include declining electric vehicle sales and politically driven protests against the manufacturer. And last week, a SpaceX rocket exploded in Florida during launch, showering some places with debris.

There’s a “black cloud over Tesla’s stock,” remarked one analyst as Musk’s primary company suffered its worst loss since 2020, while Musk’s X attack on Sen. Mark Kelly and a halting appearance on Fox Business did him no favors.

Billionaire entrepreneur Elon Musk has suffered a significant financial setback as Tesla's stock price plummeted, leading to a $29 billion decline in his net worth within a single day. According to the Bloomberg Billionaires Index,