Elon Musk, who is now entering political office as co-lead of incoming President Donald Trump's new Department of Government Efficiency, took a drastic new direction, selling off six gorgeous homes to

The world's richest man, now firmly embedded in the Trump administration, has lost over $11 billion since the start of the year.

It’s hard to fault a CEO who grows a company beyond $1 trillion in value. Elon Musk managed the feat by upending the automotive market with Tesla’s electric vehicles and extended its lead with broader battery power.

Tesla reported disappointing fourth-quarter earnings for 2024, with revenue of $25.7billion (£20.6billion) falling short of Wall Street analysts' predictions of $27.2billion (£21.8billion). The electric vehicle maker's shares dropped approximately four per cent in after-hours trading following the announcement on Wednesday.