Elon Musk's net worth fell below $900 billion on Monday, July 13, as SpaceX shares continued to decline [1], [2].
This drop is significant because it erodes the value of Musk's largest asset and ends his brief period as a trillionaire [3]. The volatility of SpaceX's public market valuation directly impacts his standing as one of the world's wealthiest individuals.
SpaceX shares fell 4.45% to just under $140 [2]. This downward trend follows a period of high valuation, where the share price peaked above $225 on June 16 [1]. The current slide brings the stock price closer to its initial public offering price, wiping out a substantial portion of the paper wealth Musk had accumulated since the IPO.
Financial reports indicate that Musk has officially lost his trillion-dollar status, with his total fortune now sitting below the $1 trillion mark [3]. While he remains among the wealthiest people globally, the decline in SpaceX's market performance has created a sharp contraction in his overall portfolio.
The decline is primarily attributed to the ongoing tumble of SpaceX stock in the U.S. equity markets [1], [2]. Because a vast majority of Musk's wealth is tied to the valuation of his companies, the specific movement of SpaceX shares serves as the primary driver for his net worth fluctuations.
“Elon Musk's net worth fell below $900 billion”
The decline in SpaceX's share price suggests a market correction following the company's transition to public trading. As the stock moves toward its IPO price, it indicates that the initial post-IPO enthusiasm may be cooling, leaving Musk's fortune vulnerable to the volatility of public equity markets rather than the more stable, controlled valuations of private ownership.
