- Mike Blake/ReutersElon Musk’s Tesla has experienced its first ever annual revenue decline after the world’s richest man faced a backlash over his ties to Donald Trump. Alarmingly for Mr Musk, Tesla’s annual profits also plunged by 46pc to $3.8bn from $7bn last year, the lowest level since the depths of the pandemic. Tesla last month reported its biggest ever fall in annual car sales. Its electric car sales dropped by a sharp 11pc, slightly offset by a boost to its electric charging and energy storage business. Elsewhere, Microsoft shares dropped by more than 6pc in after hours trading as the company’s AI revenues failed to wow investors.