Elon Musk’s net worth has dropped below $800 billion after SpaceX shares hit another all-time low on Friday, wiping out $45.3 billion of his fortune in a single trading session.
Musk Loses $45bn as SpaceX Shares Tumble
SpaceX shares fell 4.4% to around $125 shortly after markets opened, following an aborted Starship launch, according to a Forbes report cited by Nairametrics. The decline extends a five-day losing streak that has cut the stock’s value by more than 14.5% since last Thursday.
Musk’s fortune now stands at approximately $797.8 billion, down from a peak of $1.45 trillion in mid-June, marking a decline of nearly $700 billion in just over a month. The sell-off followed Musk’s announcement that Starship’s 13th launch was aborted after some engines failed to start, with the next attempt expected early next week.
This is the first test flight since SpaceX’s record-setting IPO last month. Despite the plunge, Musk remains the world’s richest person, well ahead of Google co-founders Larry Page and Sergey Brin.
NEWS NOW:
- Mamdani says Netanyahu could still face arrest if he visits New York
- Rep. Ralph Norman announces bid for Lindsey Graham’s Senate seat
- Sandy Brondello apologizes after ‘protected species’ remark about Angel Reese
- Sunny Hostin invokes former prosecutor role during son’s trespassing encounter with the police
