StocksMedium•5 November 2026•
1 min read
Elon Musk's Net Worth Drops $34B Following US Election Results
Key Facts
1Elon Musk's net worth fell by approximately $34 billion on Wednesday following Democratic victories in the US Congress.
2Tesla shares closed down about 3.3% and SpaceX fell by about 3.8% in New York.
Elon Musk's net worth fell by approximately $34 billion on Wednesday following Democratic victories in the US Congress. Billionaires.Africa reported that Tesla shares closed down about 3.3% and SpaceX fell by about 3.8% in New York, as markets reacted negatively to election results perceived as a political headwind for Musk's business interests.
TSLA closed at $385.19 on November 4, 2026, after reaching a day high of $392.04. Meanwhile, SPCX closed at $135.92 on the same date, down from its session high of $140.5. The decline in Musk's primary holdings occurred despite a broader market rally following the midterm elections.