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

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.

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,”…

Mr. Musk’s involvement in politics and his financial support for the president’s campaign were once seen by investors as a benefit to Tesla, fueling a steep rise in company shares after the election last year. That association has now turned into a liability. Tesla shares are down 40 percent from their peak in December.

The Tesla CEO says both parties have failed and claims The American Party will fight government bloat, attract disillusioned Democrats, and shake up the system.

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.

Tesla’s CEO said he created a new political party called the America Party after reigniting a feud with President Trump.

Tesla CEO Elon Musk has been a harsh critic of President Donald Trump's spending bill. Trump said Musk had "gone off the rails."

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.