Archive · 2 Aug 2026
Musk’s Fortune Falls $600B After SpaceX, Tesla Share Slumps
Elon Musk, the CEO of SpaceX and Tesla, used to be the richest person in the world with a fortune of about $1.33 trillion.
After SpaceX’s stock fell a lot and Tesla’s stock also dropped, his net worth went down to about $684 billion.
The SpaceX drop happened after the company sold a huge amount of shares in its first public offering.
Tesla’s share price fell because the company didn’t make as much profit as people expected.
Even though his wealth fell, Musk still plans to spend a lot of money on new technology like self‑driving cars and robots.
Musk’s net worth fell to $684 billion from a $1.33 trillion peak on June 16.
SpaceX shares dropped 46% from their IPO peak, wiping out hundreds of billions of dollars.
Tesla shares fell 17% after the company missed Q2 earnings expectations.
SpaceX’s IPO raised $75 billion, the largest ever.
Musk plans to spend over $25 billion on AI, autonomous driving, and robotics this year.
- Who
- Elon Musk
- What
- Personal net worth fell by more than $600 billion after SpaceX and Tesla shares dropped
- When
- From June 16 peak to July 22 earnings report
- Where
- United States, involving SpaceX and Tesla
- Why
- Sharp corrections in SpaceX shares post‑IPO and Tesla’s earnings miss
- Net worth
- $684 billion
- Peak net worth
- $1.33 trillion
- SpaceX IPO size
- $75 billion
- SpaceX share drop
- 46%
- Tesla share drop
- 17%