Ranking Elon Musk’s Companies’ Market Values Since He Began Supporting Trump
Written by
T. Woods
Edited by
Amber Barkley
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Elon Musk, the richest human being on Earth, has often been a lightning rod for public attention due to his wealth and his dedication to SpaceX and Tesla Motors. That said, the 2020s have been a turbulent period for the billionaire, as his public and political activities have made him almost as divisive and controversial a figure as President Donald Trump — whose equally-controversial Department of Government Efficiency (DOGE) Musk now operates within.
In 2022, despite Musk’s history of political independence and support of candidates from both major parties, Bloomberg reported Musk had declared he would no longer vote for Democrats, and from that point onward, he began financially supporting far-right political candidates in America, including Trump’s reelection campaign.
Numerous controversies have had considerable effect upon Musk’s companies, their stocks and the stock market itself. Some of those effects are immediately measurable, as is the case with Tesla; in other cases, such as Musk’s privately-held companies, it’s a bit murkier what his public actions have cost his businesses.
X
When Elon Musk purchased Twitter in 2022 for $44 billion, he took the company private so that it could no longer be traded publicly on the stock market. However, per CNN, investment powerhouse Fidelity’s late 2023 Blue Chip Growth Fund filing noted its shares of X were worth only $5.6 million, a steep drop from the $19.66 million those shares were worth during Musk’s original Twitter takeover.
After those shares dropped even further to $4.2 million, Fidelity extrapolated that Twitter/X was worth approximately 80% less in late 2024 than it was before Musk’s $44 billion purchase in 2022, CNN reported.
Tesla
Musk’s electric vehicle automaker Tesla was among the worst performing stocks in the S&P 500 in the first quarter of 2025 — the company lost more than a third of its overall value, though it has since begun to recover.
Amidst the growing backlash surrounding Musk’s political activities, Tesla sales themselves have dropped. Further, uncertainty regarding Trump’s trade tariffs and how they might increase car prices have also cut into Tesla profits. Moreover, Tesla sales in China have decreased by 50% and continue to drop in the European Union.
Overall, 2025 has been a difficult time for the once-ubiquitous EV brand.
SpaceX
While Musk’s SpaceX is not a publicly-traded company, CNBC reported in December 2024 that its valuation jumped a whopping 67% — from $210 billion to a staggering $350 billion — thanks to a secondary share sale. In said sale, both investors and SpaceX itself purchased insiders’ stock at $185 a share, making a $1.25 billion purchase offer.
Overall, SpaceX seems not just untouched by Musk’s controversies, but is indeed thriving.
Neuralink
Neuralink is another privately-held company, and as such, its exact worth is not entirely clear. However, that worth has appeared only to have grown after the brain implant developer’s first human trials in 2024 — Reuters reported the companies value at $5 billion in June of 2023, and by July of 2024 they noted that Neuralink’s value had jumped to $8 billion.
xAI
In March 2025, Musk’s artificial intelligence firm xAI purchased X for $33 billion– $11 billion less than Musk originally paid for it — in an all-stock deal, as reported by The Guardian.
In 2024, Business Insider noted that xAI was reputedly worth $50 billion; following xAI’s purchase of X, Musk claimed xAI’s worth to now be $80 billion.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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