Elon Musk’s business empire lost roughly $450 billion in market value over two trading days. The selloff hit Tesla and SpaceX as investors reassessed the risks tied to his companies.
Tesla shares fell sharply during the period. The electric-vehicle maker shed a large share of the combined decline, dragging down its market capitalization.
SpaceX, though privately held, also faced valuation pressure. The two firms together accounted for the $450 billion two-day wipeout.
Investors are growing uneasy about a divided Washington. Political gridlock could complicate decisions that affect Musk’s companies, including contracts and regulatory matters.
The concerns center on what some describe as “Elon, Inc.” — the informal network of businesses tied to Musk. A split government may slow policy support those firms have relied on.
Tesla remains the most visible piece of that network. Its stock often moves on news about Musk himself, not just vehicle sales or earnings.
The scale of the two-day loss shows how closely markets link Musk’s political and business fortunes. Traders are pricing in uncertainty around his broader enterprise.
