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.

President Trump on Sunday issued a lengthy Truth Social post attacking former ally Elon Musk after the Tesla mogul announced he was launching a third party over opposition to Trump’s “big, beautiful bill.” “I am saddened to watch Elon Musk go completely ‘off the rails,’ essentially becoming a TRAIN WRECK over the past five weeks,”…

Tesla CEO Elon Musk has announced plans to launch a new political party, sending Tesla's stock tumbling and roiling the markets. Tesla shares fell as much as 7.6% in pre-market trading before slightly recovering.