The world's richest man was forced to exit full-time politics and focus more of his energies on Tesla after the company's performance lagged.

Tesla’s stock tumbled more than 7% on Tuesday, erasing billions in market value from the electric car maker as the rift between CEO Elon Musk and President Donald Trump reignited. The stock closed down $16.95, or 5.3%, to $300.71 per share — a sharp drop from its previous close of $317.66. Shares are down almost 25% this year.

Elon Musk's net worth of $367 billion makes him the world's richest person. His wealth is closely tied to shares of his car company, Tesla.