What The Hell America!

It turns out that all of Elon Musk’s villainous efforts working in the Trump administration have cost him 25 percent of his total wealth.

Since January 17, just three days prior to the start of President Trump’s second term, the tech oligarch and fascism enthusiast has lost $113 billion, Bloomberg reports. The bulk of that loss has come from a 33 percent drop in the stock price of Musk’s Tesla car company, taking a chunk out of his wallet even as his other companies, such as SpaceX, Neuralink and XAi, have taken in more funding.

Tesla has lost $448.3 billion in market value since January, with the car company becoming the target of protests over the White House’s massive cuts to government agencies and its other unpopular policies. Demonstrations have sprouted up at Tesla dealerships across the country and sales have plummeted, with the company experiencing its worst quarterly earnings in years.

Musk has crowed about the success of his work in government through theDepartment of Government Efficiency. But he has been unable to live up to his own promises, claiming to save only $160 billion versus the lofty $2 trillion figure he said he would deliver. On top of that, his cost-cutting measures could end up costing taxpayers even more money. His efforts have made him massively unpopular, with 54 percent of Americans disapproving of the world’s richest man compared to 53 percent disapproval of Trump according to a new poll.

Musk can’t ignore the consequences of his actions anymore, saying on Tesla’s earnings call last week that “[t]here’s been some blowback for the time that I’ve been spending in government.” As a result, Musk added that his “time allocation to DOGE will drop significantly” beginning in May.

But even if that is true, it may not reverse Musk’s financial misfortunes or his lack of popularity. It’s not going to make Americans start buying his cars again or forget that he called Social Security, which millions of disabled and elderly Americans depend on, a “ponzi scheme.” Musk will have to work tirelessly to atone for his actions to get back into the public’s good graces, if that’s even possible.

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Thanks to the Team @ The New Republic Source link & Great Job Hafiz Rashid