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Elon Musk loses trillionaire status as tech rout hammers Tesla, SpaceX
Fox Business • • business
Key Points:
- Elon Musk's net worth has dropped to $946 billion as of Wednesday, down from about $1.11 trillion less than two weeks ago, due to declines in SpaceX and Tesla shares amid a broader tech sell-off.
- Musk remains the world's richest person, with a significant lead over second-place Larry Page, whose net worth is $296 billion.
- SpaceX's IPO debut on June 12, priced at $135 per share and rising to $150, initially pushed Musk's net worth above $1 trillion, with the company valued at over $1.77 trillion.
- SpaceX shares peaked at $225.64 on June 16, briefly lifting Musk's net worth to around $1.32 trillion, but the stock fell more than 30% afterward, wiping out about $240 billion of his fortune.
- Founded in 2002, SpaceX is the world's largest space company, known for pioneering reusable rocket technology and serving as a key contractor for NASA and the U.S. government.
