Mr. Musk’s involvement in politics and his financial support for the president’s campaign were once seen by investors as a benefit to Tesla, fueling a steep rise in company shares after the election last year. That association has now turned into a liability. Tesla shares are down 40 percent from their peak in December.

Elon Musk's net worth has taken a $15.3 billion hit after the Tesla CEO announced he was to form a new political party. The news sent ripples through financial markets and spooked investors concerned about Musk's political ambitions and possible implications for Tesla's brand and business operations.

Tesla stock price fell Monday after Musk said he's formed the America Party, the latest development in the billionaire's feud with President Trump.

July 7–8, 2025: The first trading day since Musk’s weekend announcement, Tesla shares tumbled, and Musk’s personal fortune dropped by as much as $15 billion, according to the Bloomberg Billionaires Index. As of July 9, it stands at $349 billion with Tesla shares broadly unchanged.

Longtime supporters of Tesla and Elon Musk called on its board to pull the CEO back to the troubled EV maker after he said he is starting a new America Party.

Elon Musk says he has formed a new political party called the America Party. But it remains unclear what formal steps, if any, he has taken to establish it.