Elon Musk has lost between $650 billion and $700 billion in paper wealth in five weeks as steep declines in SpaceX and Tesla shares hit his fortune, though he remains the world’s richest person.
Still World’s Richest, But Musk Down $700bn In Weeks
Musk’s wealth peaked near $1.45 trillion on June 16, days after SpaceX’s record-breaking IPO pushed its valuation to $2.64 trillion. By July 23, Bloomberg’s Billionaires Index put him at roughly $738 billion, according to a report by MSN.
SpaceX shares have fallen 41.41% from their peak, wiping over $1 trillion off its market cap after a delayed Starship launch and fading post-IPO enthusiasm. Tesla added to the slide after missing Q2 earnings estimates despite record deliveries, with shares dropping 14.52% in a single day.
Analysts note Musk’s losses remain unrealized, tied to stock value rather than actual sales.
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