Tesla shares were sliding nearly 5% in midday trading. Tesla’s stock (Nasdaq:TSLA) moved lower once again Monday, falling almost 5% in midday trading, the continuation of a fairly steady decline since Donald Trump took office.

The final earnings release of 2024 finalized another difficult year for Tesla’s bottom line, as its full-year net income came in at $8.4 billion, a 23% decrease from 2023 and a 40% decline from 2022’s record $14.1 billion profit, though its full-year revenue rose $97.7 billion, a 1% improvement from 2023’s record.

Elon Musk's net worth has declined since Donald Trump took office, primarily due to the impact of new tariffs on his companies.