Spacex Stock, Tesla Woes Cost Elon Musk His Trillionaire Status

Dow Jones06-24 19:18

The stock market selloff this week has been painful for investors but spare a thought for Elon Musk.

The SpaceX and Tesla CEO has already lost his trillionaire status following a sharp drop in the share price of both companies. Tesla's 5.8% drop Tuesday took Musk's net worth to $957 billion, according to the Bloomberg Billionaires Index. But SpaceX's 16% plunge Monday did more damage -- around $240 billion's worth -- to his wealth.

SpaceX stock has been volatile since its trading debut on June 12 but the shares had their smallest move in either direction on Tuesday, climbing 1%. Maybe that signals the beginning of a period of relative calm -- the stock was up just 0.4% ahead of the open Wednesday.

Or it could be the calm before another storm.

Either way, Musk is doing more than OK this year. His net worth has climbed $338 billion in 2026, more than the entire $297 billion wealth of the next richest person -- Google co-founder Larry Page.

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Comments

  • FlyingArrowz
    06-24 20:46
    FlyingArrowz
    Even he drop 90% he is still a billionaire, investors can goes bankrupt or become a poor person if it happen .
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