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.

Tesla shares sank Monday after CEO Elon Musk announced he would form a new political party in an escalation of his feud with President Donald Trump.

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 shares fell sharply in early trading Monday after CEO Elon Musk said he will launch a new political party.

Tesla's CEO has proved once again that investors in his EV company would prefer that he stay out of politics and focus on the business.

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.

Elon Musk isn't done with politics just yet. Days after the SpaceX and Tesla CEO threatened to form his own political party as an alternative to America's "Democrat-Republican uniparty," Musk has announced his pledge to do so.