Elon Musk’s R2.6-trillion losses dwarf SA budget
SA’s Oppenheimer and Rupert families also feel the pain of ‘Trumpenomics’
09 April 2025 - 05:00
Elon Musk has lost $135bn of his vast wealth since the beginning of the year — equivalent to almost half of SA’s GDP and more than the budget presented by the National Treasury last month — as “Trumpenomics” wreaks havoc in global markets and hits billionaires, particularly US tech magnates.
The SA-born billionaire’s fortune fell a further $4.4bn, according to data from Bloomberg billionaires’ index, but he still remains the world’s richest person, with a net worth of $298bn — more than SA’s national debt...
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