Elon Musk’s brother Kimbal blasts Trump's tariff policies that erased $30B from Tesla CEO’s fortune

WASHINGTON, DC: Kimbal Musk is not so happy with his brother's favorite President, Donald Trump.

The 52-year-old younger brother of Elon Musk isn't mincing words when it comes to Trump’s new round of sweeping tariffs — calling them a “permanent tax” on the American people and warning that they’ll tank jobs, consumption, and the economy, Radar Online reported.

Elon Musk's brother lashes out at Donald Trump's tariffs

“Who would have thought that Trump was actually the most high tax American President in generations,” Kimbal Musk fired off on X (formerly Twitter) on Monday, April 7. “Through his tariff strategy, Trump has implemented a structural, permanent tax on the American consumer.”

“Even if he is successful in bringing jobs on shore through the tariff tax, prices will remain high... because we are simply not as good at making things,” Kimbal continued. “A tax on consumption also means less consumption. Which means less jobs. Which in turn leads to less consumption. And then even less jobs.”

The younger Musk’s rant came right as Elon himself lost a jaw-dropping $30.9 billion in net worth, thanks to Trump’s new tariff plan. 

The Tesla titan was walloped hard when Trump announced a baseline 10% tariff on all imported goods, plus customized tariffs of up to 50% on certain countries and regions.

Wall Street freaked, stocks tumbled, and the ripple effects were felt across the tech empire.

The Dow Jones, S&P 500, and Nasdaq Composite all sank more than 5% in one of the sharpest drops of the year — slashing not just Musk’s fortune but also Amazon boss Jeff Bezos’s net worth by $27 billion.

Kimbal Musk’s resume and Tesla's year from hell

Kimbal Musk isn’t just Elon’s little brother — he’s a major player in his own right.

He’s currently on the board of Tesla, has founded the farm-to-table restaurant chain The Kitchen, and formerly served as a director at both SpaceX and Chipotle.

Elon’s financial bruising isn’t just about Wall Street dips. Tesla has been having a downright brutal year. The company just closed out its worst quarter since 2022, with shares plunging 36% in just the first three months.

Even Elon seemed stunned by the freefall. At a March 30 rally backing a right-wing judge, he addressed the crowd with candor.

“My Tesla stock and the stock of everyone who holds Tesla has gone, went roughly in half... This is a very expensive job is what I’m saying," he admitted.

Furthermore, Tesla dealerships have reportedly been hit by waves of left-wing vandalism, making things worse.

Elon Musk's future at DOGE

It also looks like Elon Musk might be on his way out at DOGE (Department of Government Efficiency), the brainchild of Donald Trump’s administration with Elon as its poster boy.

According to Politico, Trump told his inner circle that Musk will soon step back from his advisory role and return to private industry.

“The president remains pleased with Musk and his Department of Government Efficiency initiative, but both men have decided in recent days that it will soon be time for Musk to return to his businesses and take on a supporting role," the outlet claimed.

But White House Press Secretary Karoline Leavitt was quick to dismiss the entire report as “garbage.”

“Musk would only exit when his incredible work at DOGE is complete,” she said.

Still, Trump sang a slightly different tune during a presser.

“He’s been amazing,” Trump said of Musk. “But I also think he’s got a big company to run. At some point, he’s going to be going back. He wants to.”