SpaceX Starship test flight stalls, Musk's firms see sharp losses

SpaceX launched the 13th test flight of its Starship rocket from Texas, carrying 20 new Starlink satellites. The vehicle reached about 200 km altitude before its booster and spacecraft separated, with the booster directed toward the Gulf of Mexico and the spacecraft toward the Indian Ocean. NASA monitored the flight, which is a step toward using Starship for lunar missions. Six of the 33 first‑stage engines had been replaced after a previous ignition failure, and earlier flights in May also suffered engine problems.

Following the test, Tesla shares fell about 18 % to $313 and SpaceX shares dropped roughly 7 %, wiping roughly $130 billion from Elon Musk’s net worth. Musk labeled himself a “former trillionaire” on social media. In an interview with The Economist he acknowledged becoming overly involved in politics, referencing the controversial Government Efficiency Department (DOGE) program, and discussed the financial strain from Tesla’s weaker quarter and rising AI‑related spending.

The events highlight both technical challenges for Starship’s heat‑shield testing and the broader financial impact on Musk’s conglomerate.