Elon Musk’s wealth falls to $684 billion as SpaceX and Tesla shares plunge
Elon Musk’s personal fortune dropped from a mid‑June peak of about $1.33 trillion to roughly $684 billion, a loss of more than $600 billion (about $646 billion). The decline is driven primarily by a 46 % fall in SpaceX shares, which slid from a record $202 per share to a low of $108.37, and a 17 % drop in Tesla stock since the company’s second‑quarter earnings on July 22.
Musk owns roughly 40 % of SpaceX, so the steep correction in the private‑company’s stock directly erodes his net worth. Despite the paper loss, Bloomberg’s Billionaires Index still lists him as the world’s richest person. He has reaffirmed plans to spend more than $25 billion this year on artificial‑intelligence, autonomous‑driving and robotics projects, and up to 911.5 million SpaceX insider and early‑investor shares are set to unlock next month, which could add further price pressure.
The share‑price swings follow SpaceX’s historic $75 billion IPO – the largest ever – and a weaker-than‑expected Tesla earnings report that showed negative free cash flow as AI‑related spending rose.
Entities: Bloomberg Billionaires Index · Elon Musk · Forbes · Jeff Bezos · Larry Page · Mark Zuckerberg · SpaceX · Tesla · Tesla, Inc.
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 13 SOURCES] Up to 911.5 million SpaceX insider and early‑investor shares are set to unlock next month, potentially adding price pressure. (Up to 911.5 million insider and early‑investor SpaceX shares will unlock next month, possibly adding pressure on the)
- [● 13 SOURCES] SpaceX’s share price fell about 46 % from its peak, dropping from roughly $202 to $108.37 per share. (SpaceX shares fell about 46 % from the peak of $202 to $108.37.)
- [● 12 SOURCES] Bloomberg’s Billionaires Index reported Musk’s net worth at $684 billion. (Bloomberg Billionaires Index)
- [● 8 SOURCES] Elon Musk’s net worth fell from about $1.33 trillion in mid‑June to $684 billion by early August. (Bloomberg Billionaires Index)
- [● 14 SOURCES] Tesla’s stock fell about 17 % since its second‑quarter earnings report on July 22. (Tesla stock has dropped 17 % since the company reported its second‑quarter earnings on July 22.)
- [● 12 SOURCES] Musk remains the world’s richest person, with wealth still exceeding that of Larry Page and Jeff Bezos. (Bloomberg Billionaires Index)
- [● 14 SOURCES] Elon Musk’s net worth fell from about $1.33 trillion in mid‑June to $684 billion, a loss of roughly $646 billion. (Musk’s wealth dropped from a mid‑June peak of about $1.33 trillion to roughly $684 billion, a loss of more than $600 b…)
- [● 12 SOURCES] Tesla plans to spend more than $25 billion this year on AI, autonomous driving and robotics. (Musk has said Tesla will spend more than $25 billion this year, nearly three times last year’s investment, on AI‑powered)
- [● 13 SOURCES] Elon Musk owns about 40 % of SpaceX, so changes in the company’s share price directly affect his net worth. (Musk owns about 40 % of SpaceX, so each significant move in the company’s share price directly impacts his net worth.)
- [● 3 SOURCES] SpaceX’s IPO raised $75 billion, the largest public offering in history. (SpaceX raised $75 billion in its IPO, the largest public offering ever recorded.)
- [● 3 SOURCES] Bloomberg Billionaires Index still lists Elon Musk as the world’s richest person. (Despite the loss, Bloomberg’s Billionaires Index still lists Musk as the world’s richest person.)