Simmering anger at the billionaire’s unchecked power spilled out in a remarkable Cabinet Room meeting. The president quickly moved to rein in Mr. Musk.

While Tesla CEO Elon Musk isn't in any danger of struggling to make ends meet, his wealth has taken a significant hit recently as shares of the electric vehicle company tumble on the stock market. Some analysts say it's an indication that Musk's controversial comments and connection to the Trump administration are having an impact on his personal riches.