特斯拉股價(jià)持續(xù)暴跌，馬斯克身家跌破4000億美元
Sasha Rogelberg
2025-02-13
圖片來源：CHIP SOMODEVILLA/POOL/AFP—Getty Images
? 去年12月，埃隆·馬斯克的凈資產(chǎn)一度超過了4,860億美元，但他的身家在2025年首次跌破4,000億美元。馬斯克的財(cái)富約60%來自特斯拉，但今年特斯拉的股價(jià)表現(xiàn)非常糟糕。需求下滑和馬斯克在政治領(lǐng)域不斷引發(fā)爭(zhēng)議，導(dǎo)致特斯拉股價(jià)下跌了27%。
據(jù)彭博億萬富翁指數(shù)（Bloomberg Billionaires Index）顯示，由于特斯拉（Tesla）股價(jià)遭遇兩位數(shù)跌幅，埃隆·馬斯克的凈資產(chǎn)在今年首次跌破4,000億美元大關(guān)，在不到兩個(gè)月內(nèi)已縮水近900億美元。
去年12月，馬斯克的個(gè)人財(cái)富創(chuàng)歷史新高，成為凈資產(chǎn)突破4,000億美元的第一人。得益于太空探索技術(shù)公司（SpaceX）高達(dá)3,500億美元的估值，以及投資者對(duì)馬斯克在特朗普核心圈層中的廣泛角色押上重注，馬斯克的凈資產(chǎn)持續(xù)攀升，直到12月17日達(dá)到4,864億美元的最高峰。
但僅僅兩個(gè)月后，特斯拉股價(jià)暴跌27%，使馬斯克的凈資產(chǎn)大幅縮水。面對(duì)價(jià)格更實(shí)惠的中國(guó)車企比亞迪（BYD）的競(jìng)爭(zhēng)，特斯拉2024年的交付量同比減少2萬輛，這是其十余年來首次出現(xiàn)年度銷量負(fù)增長(zhǎng)。比亞迪在智駕技術(shù)領(lǐng)域持續(xù)突破，而特斯拉雖然不斷承諾要推出智駕技術(shù)，卻受制于監(jiān)管障礙而未能兌現(xiàn)。
馬斯克的電動(dòng)汽車公司今年的前景也不容樂觀：作為歐盟第二大電動(dòng)汽車市場(chǎng)，法國(guó)上月特斯拉新車注冊(cè)量暴跌63%；德國(guó)銷量更是驟降60%，這與歐洲電動(dòng)汽車市場(chǎng)需求回暖的跡象形成鮮明對(duì)比。
據(jù)彭博社測(cè)算，馬斯克持有的特斯拉股票及期權(quán)約占其凈資產(chǎn)的60%，其持有的太空探索技術(shù)公司42%股份估值約1,360億美元。特斯拉方面未回應(yīng)《財(cái)富》雜志的置評(píng)請(qǐng)求。
特斯拉的巔峰與低谷
特斯拉股價(jià)持續(xù)下挫的背后，不僅折射出這家車企近幾個(gè)月的低迷表現(xiàn)。特斯拉股價(jià)已連續(xù)第五個(gè)交易日下跌，恰逢馬斯克財(cái)團(tuán)對(duì)人工智能巨頭OpenAI發(fā)起974億美元的主動(dòng)收購要約。這位曾參與創(chuàng)建并早期投資OpenAI的科技大亨遭遇當(dāng)頭棒喝——OpenAI首席執(zhí)行官薩姆·奧爾特曼不僅斷然拒絕報(bào)價(jià)，反而提出以97.4億美元反向收購馬斯克旗下的社交媒體平臺(tái)X。
自美國(guó)大選以來，資本市場(chǎng)對(duì)特斯拉的信心猶如過山車。特朗普勝選當(dāng)日，市場(chǎng)預(yù)期新政府將力挺本土電動(dòng)車產(chǎn)業(yè)，特斯拉股價(jià)應(yīng)聲暴漲14%。分析認(rèn)為，特朗普擬議的對(duì)華加征關(guān)稅政策或?qū)⒆杞睾Ｍ飧?jìng)爭(zhēng)者進(jìn)入美國(guó)市場(chǎng)，但其取消替代能源補(bǔ)貼的威脅，則可能對(duì)中小型電動(dòng)車企造成更大負(fù)面沖擊。
盡管銷售遇冷，特斯拉一季度財(cái)報(bào)仍傳遞出樂觀信號(hào)。馬斯克在業(yè)績(jī)會(huì)上大談人形機(jī)器人Optimus未來或創(chuàng)造10萬億美元收入，并持續(xù)為自動(dòng)駕駛技術(shù)造勢(shì)。
韋德布什證券（Wedbush Securities）董事總經(jīng)理丹·艾夫斯在財(cái)報(bào)會(huì)后表示：“特斯拉與馬斯克將迎來黃金時(shí)代。這是我聽過馬斯克最雄心勃勃的展望。”
然而，馬斯克作為特朗普政策推手的身份以及他作為政府效率部負(fù)責(zé)人大規(guī)模辭退政府雇員的作法，讓消費(fèi)者感到失望。
盛寶銀行（Saxo Bank）全球投資策略主管雅各布·法爾肯克龍?jiān)谥芏难芯繄?bào)告中指出：“特斯拉2025年的最大挑戰(zhàn)并非技術(shù)，而是公眾認(rèn)知。馬斯克的政治包袱正在拖累銷量、品牌忠誠(chéng)度及投資者信心。"
施蒂費(fèi)爾（Stifel）分析師斯蒂芬·根加羅認(rèn)同這一判斷，即馬斯克涉足政治對(duì)特斯拉而言是壞消息。該機(jī)構(gòu)與晨間咨詢（Morning Consult）聯(lián)合調(diào)查顯示，特斯拉上個(gè)月的凈好感度僅3%，逼近2018年有記錄以來最低點(diǎn)。雖維持"買入"評(píng)級(jí)，施蒂費(fèi)爾上周已將目標(biāo)股價(jià)從492美元下調(diào)至478美元。
根加羅在最新報(bào)告中警告：“隨著馬斯克近期因政府機(jī)構(gòu)精簡(jiǎn)計(jì)劃頻登媒體頭條，他的政治立場(chǎng)正對(duì)特斯拉造成負(fù)面影響。”（財(cái)富中文網(wǎng)）
譯者：劉進(jìn)龍
審校：汪皓
? 去年12月，埃隆·馬斯克的凈資產(chǎn)一度超過了4,860億美元，但他的身家在2025年首次跌破4,000億美元。馬斯克的財(cái)富約60%來自特斯拉，但今年特斯拉的股價(jià)表現(xiàn)非常糟糕。需求下滑和馬斯克在政治領(lǐng)域不斷引發(fā)爭(zhēng)議，導(dǎo)致特斯拉股價(jià)下跌了27%。
據(jù)彭博億萬富翁指數(shù)（Bloomberg Billionaires Index）顯示，由于特斯拉（Tesla）股價(jià)遭遇兩位數(shù)跌幅，埃隆·馬斯克的凈資產(chǎn)在今年首次跌破4,000億美元大關(guān)，在不到兩個(gè)月內(nèi)已縮水近900億美元。
去年12月，馬斯克的個(gè)人財(cái)富創(chuàng)歷史新高，成為凈資產(chǎn)突破4,000億美元的第一人。得益于太空探索技術(shù)公司（SpaceX）高達(dá)3,500億美元的估值，以及投資者對(duì)馬斯克在特朗普核心圈層中的廣泛角色押上重注，馬斯克的凈資產(chǎn)持續(xù)攀升，直到12月17日達(dá)到4,864億美元的最高峰。
但僅僅兩個(gè)月后，特斯拉股價(jià)暴跌27%，使馬斯克的凈資產(chǎn)大幅縮水。面對(duì)價(jià)格更實(shí)惠的中國(guó)車企比亞迪（BYD）的競(jìng)爭(zhēng)，特斯拉2024年的交付量同比減少2萬輛，這是其十余年來首次出現(xiàn)年度銷量負(fù)增長(zhǎng)。比亞迪在智駕技術(shù)領(lǐng)域持續(xù)突破，而特斯拉雖然不斷承諾要推出智駕技術(shù)，卻受制于監(jiān)管障礙而未能兌現(xiàn)。
馬斯克的電動(dòng)汽車公司今年的前景也不容樂觀：作為歐盟第二大電動(dòng)汽車市場(chǎng)，法國(guó)上月特斯拉新車注冊(cè)量暴跌63%；德國(guó)銷量更是驟降60%，這與歐洲電動(dòng)汽車市場(chǎng)需求回暖的跡象形成鮮明對(duì)比。
據(jù)彭博社測(cè)算，馬斯克持有的特斯拉股票及期權(quán)約占其凈資產(chǎn)的60%，其持有的太空探索技術(shù)公司42%股份估值約1,360億美元。特斯拉方面未回應(yīng)《財(cái)富》雜志的置評(píng)請(qǐng)求。
特斯拉的巔峰與低谷
特斯拉股價(jià)持續(xù)下挫的背后，不僅折射出這家車企近幾個(gè)月的低迷表現(xiàn)。特斯拉股價(jià)已連續(xù)第五個(gè)交易日下跌，恰逢馬斯克財(cái)團(tuán)對(duì)人工智能巨頭OpenAI發(fā)起974億美元的主動(dòng)收購要約。這位曾參與創(chuàng)建并早期投資OpenAI的科技大亨遭遇當(dāng)頭棒喝——OpenAI首席執(zhí)行官薩姆·奧爾特曼不僅斷然拒絕報(bào)價(jià)，反而提出以97.4億美元反向收購馬斯克旗下的社交媒體平臺(tái)X。
自美國(guó)大選以來，資本市場(chǎng)對(duì)特斯拉的信心猶如過山車。特朗普勝選當(dāng)日，市場(chǎng)預(yù)期新政府將力挺本土電動(dòng)車產(chǎn)業(yè)，特斯拉股價(jià)應(yīng)聲暴漲14%。分析認(rèn)為，特朗普擬議的對(duì)華加征關(guān)稅政策或?qū)⒆杞睾Ｍ飧?jìng)爭(zhēng)者進(jìn)入美國(guó)市場(chǎng)，但其取消替代能源補(bǔ)貼的威脅，則可能對(duì)中小型電動(dòng)車企造成更大負(fù)面沖擊。
盡管銷售遇冷，特斯拉一季度財(cái)報(bào)仍傳遞出樂觀信號(hào)。馬斯克在業(yè)績(jī)會(huì)上大談人形機(jī)器人Optimus未來或創(chuàng)造10萬億美元收入，并持續(xù)為自動(dòng)駕駛技術(shù)造勢(shì)。
韋德布什證券（Wedbush Securities）董事總經(jīng)理丹·艾夫斯在財(cái)報(bào)會(huì)后表示：“特斯拉與馬斯克將迎來黃金時(shí)代。這是我聽過馬斯克最雄心勃勃的展望。”
然而，馬斯克作為特朗普政策推手的身份以及他作為政府效率部負(fù)責(zé)人大規(guī)模辭退政府雇員的作法，讓消費(fèi)者感到失望。
盛寶銀行（Saxo Bank）全球投資策略主管雅各布·法爾肯克龍?jiān)谥芏难芯繄?bào)告中指出：“特斯拉2025年的最大挑戰(zhàn)并非技術(shù)，而是公眾認(rèn)知。馬斯克的政治包袱正在拖累銷量、品牌忠誠(chéng)度及投資者信心。"
施蒂費(fèi)爾（Stifel）分析師斯蒂芬·根加羅認(rèn)同這一判斷，即馬斯克涉足政治對(duì)特斯拉而言是壞消息。該機(jī)構(gòu)與晨間咨詢（Morning Consult）聯(lián)合調(diào)查顯示，特斯拉上個(gè)月的凈好感度僅3%，逼近2018年有記錄以來最低點(diǎn)。雖維持"買入"評(píng)級(jí)，施蒂費(fèi)爾上周已將目標(biāo)股價(jià)從492美元下調(diào)至478美元。
根加羅在最新報(bào)告中警告：“隨著馬斯克近期因政府機(jī)構(gòu)精簡(jiǎn)計(jì)劃頻登媒體頭條，他的政治立場(chǎng)正對(duì)特斯拉造成負(fù)面影響。”（財(cái)富中文網(wǎng)）
譯者：劉進(jìn)龍
審校：汪皓
? After reaching a net worth of more than $486 billion in December, Elon Musk’s wealth has sunk below $400 billion for the first time in 2025. Tesla—where Musk derives about 60% of his wealth—has had an abysmal year. Waning demand and Musk’s continued controversial foray into politics have helped drive the stock down 27%.
Elon Musk has lost nearly $90 billion of his wealth in less than two months, pushing his net worth below $400 billion for the first time this year, according to the Bloomberg Billionaires Index, as Tesla weathers a double-digit stock slump.
Musk’s wealth reached historic heights in December when he became the first person to boast a net worth of $400 billion. That astronomical figure continued to climb until Dec. 17, when Musk’s wealth peaked at $486.4 billion, thanks to SpaceX’s $350 billion valuation and investors’ big bet on Musk’s expansive role in President Donald Trump’s inner circle.
Just two months later, Musk’s net worth has been humbled by Tesla’s share price, which has cratered 27% in less than two months. Tesla saw its first year-over-year sales loss in more than a dozen years, selling 20,000 fewer vehicles in 2024 than the year before, as it competes with China’s more affordable BYD. The Chinese automaker has been able to bolster AI driving technology Tesla has continually promised but has yet to deliver on, in part due to regulatory hurdles.
This year hasn’t looked rosy for Musk’s EV company: Tesla registrations nosedived 63% last month in France, the European Union’s second-largest EV market. Sales likewise plunged 60% in Germany, even as Europe’s demand for EVs showed signs of a recovery.
Musk’s Tesla stock ownership and options make up about 60% of his net worth, while his 42% stake in SpaceX is worth about $136 billion, according to Bloomberg. Tesla did not respond to Fortune’s request for comment.
Tesla’s peaks and valleys
Tesla’s share price has not just been a reflection of the car company’s lackluster few months. Its stock is down for a fifth straight day, coinciding with a Musk-led consortium’s unsolicited $97.4 billion bid for OpenAI. Musk was a cofounder and early investor in the AI behemoth, but CEO Sam Altman immediately rejected the offer, instead proposing to buy social media platform X from Musk for $9.74 billion.
Investors’ optimism in Tesla has been a roller coaster since the election, when the stock was immediately boosted 14% by hopes that a Trump administration would be friendly to American EVs. Trump’s proposed tariffs on China could prevent a chunk of overseas competition from entering the U.S. market, while his threat to eliminate subsidies for alternative energy sources would likely have more of a negative impact on smaller EV companies.
Despite rocky sales, that confidence continued into Tesla’s earnings as Musk hinted at a potential for $10 trillion in eventual revenue from the company’s humanoid Optimus robots and continued to lean on hype around self-driving vehicles.
“It’s going to be a golden age for Tesla and Musk,” Dan Ives, Wedbush Securities managing director, said after Tesla’s January earnings call. “This is the most bullish I’ve ever heard Musk.”
However, Musk’s status as Trump’s right hand—as well as his facilitation of a stunning wave of firings as head of the Department of Government Efficiency—has soured some consumers.
“Tesla’s biggest challenge in 2025 isn’t technology—it’s perception,” Jacob Falkencrone, global head of investment strategy at Saxo Bank, said in a research note on Tuesday. “Elon Musk’s political baggage is now weighing on sales, brand loyalty, and investor confidence.”
Stifel analyst Stephen Gengaro agreed Musk’s political involvement could spell bad news for Tesla. Along with Morning Consult, Stifel found last month that Tesla’s net favorability was at 3%, nearing an all-time low since polling began in 2018. Stifel last week lowered its target price from $492 to $478, though maintained its buy rating.
With DOGE, “making headlines recently regarding its efforts to streamline government agencies, options of [Tesla’s] CEO Elon Musk have taken a turn for the worse along political affiliations,” Gengaro said in a recent note.
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