Elon Musk’s Fortune Takes Major Hit After SpaceX Shares Plunge
Elon Musk has reportedly suffered a dramatic decline in his record-breaking fortune just days after becoming the first person to reach trillionaire status.
According to reports, a sharp sell-off in SpaceX shares has wiped hundreds of billions of dollars from the tech billionaire’s wealth, reversing a historic rise that briefly pushed his net worth to unprecedented levels.
The decline came shortly after SpaceX completed what was described as the biggest Initial Public Offering (IPO) in history, with the company debuting on the market at a valuation of nearly $1.77 trillion.
At its peak on June 16, SpaceX shares reached $225.64, pushing Musk’s estimated net worth to a record $1.45 trillion.
A Sudden Market Reversal
The surge was short-lived. SpaceX shares have since dropped more than 31% from their peak, with the decline stretching across three straight trading sessions.
The biggest blow came on Monday, when the stock fell 16.4% — its steepest single-day drop since the company entered the Nasdaq.
That fall alone reportedly wiped about $152 billion from Musk’s wealth.
During pre-market trading on Tuesday, shares dropped as low as $147, taking the stock below its initial opening price of $150.
“Investors were wary of the substantial cash required to fund technological ambitions,” Jose Torres, senior economist at Interactive Brokers, said.
Why Investors Pulled Back
The sell-off was triggered by several concerns surrounding SpaceX’s financial plans.
Investor confidence was affected after the company announced plans to issue bonds to raise at least $20 billion. The funds are expected to help refinance a short-term loan and support expansion into artificial intelligence.
Despite SpaceX holding more than $100 billion in cash, the move to raise additional funds raised concerns about the amount of capital required to support Musk’s long-term ambitions.
Further pressure came from environmental, social and governance concerns, with MSCI assigning SpaceX a CCC rating, the lowest level on its sustainability scale. The rating reflected concerns around the company’s handling of environmental and governance risks.
Heavy Spending and Financial Challenges
While SpaceX’s IPO created thousands of new millionaires among its employees, the company’s financial performance remains under pressure.
SpaceX reportedly recorded a $4.9 billion net loss in 2025, followed by another $4.28 billion loss in the first quarter of 2026.
The losses have been linked to heavy investment in projects including the Starship programme and artificial intelligence infrastructure.
Is Elon Musk Still a Trillionaire?
The answer depends on the valuation method used.
Forbes estimates Musk’s wealth remains around $1.1 trillion despite the market decline. However, some analysts argue that the recent drop below SpaceX’s listing price means his trillionaire status may have already disappeared in real-time market terms.
Regardless of the exact figure, the volatility highlights the risks of having a fortune heavily tied to a single company, especially one that has only recently entered public markets.
Musk remains the world’s richest person, but his position at the 13-figure wealth level is facing renewed pressure.
