Here's your Forbes Daily Briefing for Wednesday, March 19th.

Today on Forbes, Tesla is no longer Elon Musk's most valuable asset.

Elon Musk paid out more than $200 million to help get Donald Trump reelected in November.

In the weeks following Trump's victory, Musk more than made that back. In fact,

he became the first person ever worth $400 billion in December, after private investors valued his

startup, X-A-I at $50 billion, up from $24 billion in May, and Musk's rocket maker, SpaceX, at $350 billion, up from $210 billion in June.

That same month, public shareholders drove Tesla's market capitalization to an all-time high of $1.5 trillion.

Then, things started to slowly unravel.

Tesla's stock hit a speed bump in early January,

after the company reported weaker than expected deliveries

for the fourth quarter of 2024.

But Tesla shares started really recoiling on January 21st,

the day after President Trump's inauguration, when Musk took over as

head of Trump's new Department of Government Efficiency, or Doge.

Worries over Musk's ability to run the car company, while working around the clock figuring out

ways to slash federal government spending, have sent the stock crashing down 50% from its high.

Tesla Bull Dan Ives of Wed Bush Securities in a recent analyst report, in addition to noting

that the EV maker's numbers have been soft as of late, wrote, quote,

In a nutshell, the word balance has been missing with Elon Musk and his ability to run Tesla

as CEO, while instead

focusing all of his energy and time driving his Doge initiative within the Trump administration.

On January 29, Tesla reported that its revenue grew a disappointing 1% to $97.7 billion during 2024,

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