SpaceX Shares Slide 30%, Musk Loses Trillionaire Crown
Elon Musk has dropped below a $1 trillion net worth after a sharp global sell-off wiped about $500 billion from his fortune. SpaceX shares have fallen roughly 30% from their peak, and Tesla stock also slid amid a broader technology market downturn. Consecutive losses on Wall Street erased more than $89 billion from Tesla’s market value in a single session. Market data from Bloomberg now values Musk’s wealth at about $957 billion, down from a high of $1.45 trillion estimated by Forbes just last week. This recent decline is the largest on record, surpassing his previous $165 billion loss in 2022. Analysts warn that Musk’s fortune remains highly exposed due to its concentration in Tesla and SpaceX. Further volatility could follow as AI-linked stocks and major chipmakers prepare to report quarterly results.
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