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Elon Musk Takes The Biggest Hit From Trump’s Tariffs

by THEFUTURE.TEAM

February 4, 2025

Elon Musk, the world’s richest man and self-proclaimed “first friend” of President Donald Trump, was hit the hardest on Monday as the stock market reacted to Trump’s tariff announcements. Shares of Musk’s electric car company, Tesla, took a significant hit, with import duties expected to erode the company’s profits.

Key Takeaways

Tesla’s stock plummeted by 5%, marking the largest percentage drop among 46 U.S. companies valued at $200 billion or more.
This decline wiped out $11.8 billion from Musk’s net worth, the largest loss of the day for any billionaire.
Musk, Tesla’s largest shareholder with a 13% stake, saw the stock’s value drop to its lowest point since January 2, dipping by as much as 7.5% during morning trading.
The broader market was also volatile, with the S&P 500 losing 1.9% before slightly recovering to end the day down by 0.8%. The brief suspension of tariffs on Mexico provided some relief to the markets, tempering the anticipated negative effects.

Why Tariffs Hurt Tesla

Tesla, like many other automakers, finds itself in the crosshairs of Trump’s tariffs, especially due to its reliance on a complex North American supply chain and significant operations in China. Tesla’s CFO, Vaibhav Taneja, warned last week that any tariffs imposed would directly affect the company’s earnings, as it continues to depend on global supply chains for parts and manufacturing.

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Other companies facing similar tariff woes include Nvidia and Apple, both of which generate a substantial portion of their revenue from China.

Key Figures

$20.9 billion: Tesla’s revenue from China in 2024, which represents more than 21% of the company’s global sales.

Musk’s Reaction

Musk, who has been outspoken about his opposition to tariffs in the past, remained unusually quiet on social media regarding the new tariff-related challenges. His only comment so far was a succinct “Well, okay” in response to an Ontario official’s announcement to cancel a $68 million contract with SpaceX due to the tariffs.

Despite the threat of tariffs and the possibility of losing federal tax credits for electric car buyers, Tesla’s stock has seen remarkable growth since Trump’s election, rising 53% since November.

Forbes Ranking

Musk’s fortune now stands at $410 billion, which is over $150 billion more than it was on Election Day, making him $160 billion wealthier than Amazon founder Jeff Bezos, the second-richest person in the world.

The Future Forbes Realty Global Properties

EU Moderates Emissions While Sustaining Economic Momentum

by THEFUTURE.TEAM

November 15, 2025

The European Union witnessed a modest decline in greenhouse gas emissions in the second quarter of 2025, as reported by Eurostat. Emissions across the EU registered at 772 million tonnes of CO₂-equivalents, marking a 0.4 percent reduction from 775 million tonnes in the same period of 2024. Concurrently, the EU’s gross domestic product rose by 1.3 percent, reinforcing the ongoing decoupling between economic growth and environmental impact.

Sector-By-Sector Performance

Within the broader statistics on emissions by economic activity, the energy sector—specifically electricity, gas, steam, and air conditioning supply—experienced the most significant drop, declining by 2.9 percent. In comparison, the manufacturing sector and transportation and storage both achieved a 0.4 percent reduction. However, household emissions bucked the trend, increasing by 1.0 percent over the same period.

National Highlights And Notable Exceptions

Among EU member states, 12 reported a reduction in emissions, while 14 saw increases, and Estonia’s figures remained static. Notably, Slovenia, the Netherlands, and Finland recorded the most pronounced declines at 8.6 percent, 5.9 percent, and 4.2 percent respectively. Of the 12 countries reducing emissions, three—Finland, Germany, and Luxembourg—also experienced a contraction in GDP growth.

Dual Achievement: Environmental And Economic Goals

In an encouraging development, nine member states, including Cyprus, managed to lower their emissions while maintaining economic expansion. This dual achievement—reducing environmental impact while fostering economic activity—is a trend that has increasingly influenced EU climate policies. Other nations that successfully balanced these outcomes include Austria, Denmark, France, Italy, the Netherlands, Romania, Slovenia, and Sweden.

Conclusion

As the EU continues to navigate its climate commitments, these quarterly insights underscore a gradual yet significant shift toward balancing emissions reductions with robust economic growth. The evolving landscape highlights the critical need for sustainable strategies that not only mitigate environmental risks but also invigorate economic resilience.