Trevor Milton, the embattled founder of Nikola Corporation, is once again making headlines in 2025. Once celebrated as a visionary in the electric vehicle (EV) industry, Milton’s journey has taken dramatic turns—from billionaire status to criminal conviction and, more recently, a controversial presidential pardon. As of 2025, Trevor Milton’s net worth is estimated at $250 million, a sharp drop from the height of his financial glory but still a significant sum given the turbulence of recent years.
Who is Trevor Milton?
Trevor Milton is a Utah-born entrepreneur, investor, and former CEO known primarily for founding Nikola Corporation, a company that aimed to disrupt the trucking industry with hydrogen and electric-powered vehicles. Born on April 6, 1982, Milton is currently 42 years old. Raised in a Latter-day Saints family, Milton’s early career included several startups before launching Nikola in 2014.
Nikola promised to revolutionize freight with zero-emission vehicles, gaining major media attention and public investment. By 2020, the company went public through a SPAC merger, and Milton’s net worth briefly skyrocketed to over $7 billion. However, allegations of misleading investors soon surfaced, and everything began to unravel.
Legal Battles and the Fall from Billionaire Status
In 2020, short-seller Hindenburg Research published a damning report accusing Milton of exaggerating Nikola’s technological capabilities. The SEC and DOJ launched investigations, and Milton resigned from his role as Executive Chairman. In 2022, he was found guilty on multiple counts of securities fraud.
The conviction resulted in severe financial consequences, including settlements, fines, and the loss of a substantial portion of his Nikola holdings. By 2023, Milton’s billionaire status was gone.
Trevor Milton’s Net Worth in 2025: $250 Million
Despite the dramatic decline from his peak wealth, Milton has managed to retain an estimated $250 million net worth in 2025. His financial portfolio has diversified in recent years, allowing him to stay afloat even amid legal turmoil. Here’s a breakdown of his current wealth sources:
1. Early Nikola Holdings
Though most of his Nikola shares were sold or lost in legal battles, Milton held onto a portion early on. The initial IPO phase allowed him to secure millions in personal wealth before the company’s valuation plummeted.
2. Private Investments
Since stepping away from the public eye, Milton has reportedly invested in various private ventures, including technology startups, renewable energy companies, and real estate developments across Utah and Arizona.
3. Real Estate Portfolio
Milton owns multiple properties, including a luxury ranch in Utah and investment properties in Scottsdale. These assets have helped stabilize his finances during his legal disputes.
4. Upcoming Media Projects
There are strong rumors that Milton is exploring a memoir or documentary chronicling his rise, fall, and redemption. While still in development, such a project could serve as both a financial boost and a reputational play.
Presidential Pardon and Public Reaction
In March 2025, Milton received a presidential pardon from former President Donald Trump, sparking controversy and renewed media attention. Critics argue the pardon undermines investor protection, while supporters claim Milton was unfairly targeted due to the hype-driven nature of the EV market.
Regardless of public opinion, the pardon erases his federal conviction, potentially paving the way for future entrepreneurial ventures or a media rebranding.
Family and Personal Life
Trevor Milton keeps his personal life relatively private. He is married and lives with his wife in Utah. The couple has no known children. Despite the controversies, Milton has maintained a low profile and focused on family and private business dealings in recent years.
What Does Trevor Milton Do Now?
Milton is no longer active in any major public-facing roles. Instead, he works behind the scenes, focusing on his investment portfolio and real estate ventures. While Nikola has moved on under new leadership, Milton’s role as its founder ensures he remains a point of reference in discussions around EV startup culture and founder accountability.
With the legal cloud now lifted due to the 2025 pardon, speculation has grown about whether Milton might attempt a comeback in the business world. So far, no new public ventures have been announced, but industry insiders suggest he remains connected to the startup scene through silent partnerships and seed funding opportunities.
Final Thoughts: A High-Profile Rise, a Hard Fall, and a Possible Second Act
Trevor Milton’s story is one of dramatic highs and lows. From building a multibillion-dollar EV company to being convicted of fraud, losing billions, and receiving a presidential pardon—his journey has all the hallmarks of a Silicon Valley thriller.
As of 2025, Milton’s net worth of $250 million reflects both the collapse of Nikola’s early promises and the resilience of a founder who, despite it all, managed to maintain a significant fortune. Whether he returns to the public business stage or continues operating in the background remains to be seen.
One thing is certain: Trevor Milton’s name will remain etched in the annals of American entrepreneurship—for better or worse.
