Elon Musk's wealth is down by almost $40 billion this year — and it's only March

• Elon Musk's year isn't going too well. 
• The Tesla CEO's wealth has dropped by almost $40 billion since the start of 2024.
• The EV maker's sagging stock price has taken its toll on Musk's net worth. 

Elon Musk's troubles keep piling up — and they're affecting his wealth.

The Tesla CEO's net worth has plunged by almost $40 billion this year, according to the Bloomberg Billionaires Index.

He's now worth $189 billion, leaving him in third place on the list, after a long stint at the top.