"Elon Musk Loses $22.2 Billion as Tesla Shares Tumble"

The wealth of the world's wealthiest individual, Elon Musk, took a significant hit on Tuesday, with a staggering loss of $22.2 billion (roughly ₹1.916 lakh crore) in a single day. This substantial decrease in his net worth was primarily due to Tesla's share prices falling for four straight days. The decline in Tesla's vehicle sales, which dropped by 45% in Europe, played a significant role in this downturn. Despite the overall growth in electric vehicle sales across Europe, the decrease in Tesla's sales negatively affected market confidence, sparking worries about the global demand for its vehicles. As a result, Tesla's stock value tumbled by 8.4% in New York on Tuesday, causing the company's market capitalization to fall below the $1 trillion mark. This downturn marked the first occasion since November 7 that Tesla's market value had decreased to such an extent. Musk's fortune is highly reliant on Tesla, with over half of it linked to the company's stock, leading to a direct impact on his wealth due to the share price drop.

Furthermore, despite various strategies by the Trump administration and the Federal Reserve to reduce spending, including the implementation of tariffs, the U.S. markets have continued to face losses. Over the last four trading sessions, the U.S. benchmark index, the S&P 500, saw a decline of 3.1%. Additionally, the Magnificent 7 Index, which monitors the performance of seven major tech companies, experienced a downturn during Tuesday's trading session, further exemplifying the broader market challenges.