Elon Musk is worth more than $300 billion once again

• Elon Musk's net worth is above $300 billion again, according to Bloomberg's Billionaire Index.
• The Tesla CEO said Tuesday he will be stepping back from the White House DOGE office.
• Musk is worth $106 billion more than his nearest rival, Amazon founder Jeff Bezos.

Elon Musk is worth more than $300 billion once again after falling below that threshold earlier this month.

The world's richest person was worth $301 billion at Tuesday's close, up almost $7.5 billion on the day, according to the Bloomberg Billionaires Index, after Tesla stock closed 4.6% higher.

Musk told Tesla investors he would be pulling back from the White House DOGE office in May. "Starting next month, I will be allocating far more of my time to Tesla," he said on the Tuesday call.

Musk's net worth is $106 billion higher than that of Jeff Bezos, who is worth $195 billion and is in second place on the Bloomberg rich list. The Amazon founder and former CEO's wealth has sunk by almost $44 billion this year.

The Tesla and SpaceX CEO has also seen significant drops in his wealth since December, when he became the first person to be worth more than $400 billion. The total almost reached $500 billion that month and is down by $131 billion in 2025.

Before the start of April, Musk's net worth had not dipped below $300 billion since November, when it hit $264 billion on the sixth day of the month.

The decline in Musk's net worth has been driven by Tesla's stock slide, with the EV maker's stock down about 37% this year.

More of his net worth is derived from his stake in SpaceX than Tesla, however.

Musk and Tesla have faced significant backlash as a result of the CEO's work in the White House, where he serves as a close advisor to President Donald Trump, mainly in the administration's push for government efficiency via the DOGE office.

Many Tesla investors and fans had expressed concern about Musk not focusing enough on the company. Last month, when Fox Business asked how he was managing his DOGE work and leading his various companies, the Tesla and SpaceX CEO said, "With great difficulty."

Tesla and Musk's wealth may also be affected by the sweeping tariffs announced by the Trump administration on April 2, which roiled financial markets. Musk, who has been largely loyal to Trump, has spoken out against tariffs.

Musk has called for "zero" tariffs and a "free trade zone" between the US and Europe, and earlier this month shared a video of the economist Milton Friedman discussing the benefits of international trade.