Elon Musk’s net worth has fallen below $720 billion as SpaceX shares continue their steep decline from the company’s record highs, according to Bloomberg’s Billionaires Index. The world’s richest person, who briefly reached trillionaire status in June following SpaceX’s record $75 billion initial public offering, has now shed more than $650 billion in wealth over five weeks as investor confidence in his companies falters.
SpaceX stock hit an all-time low of $113.50 on July 28, down nearly 50 percent from its peak of $225.64 reached shortly after the June 12 IPO debut at $135 per share. The company’s market capitalization has plummeted by roughly $1.4 trillion since its high, erasing massive paper gains that briefly made Musk history’s first trillionaire.
The SpaceX selloff reflects growing investor concerns about the company’s financial fundamentals. SpaceX posted a net loss of $4.9 billion in 2025 on revenues below $19 billion, and lost an additional $4.28 billion in the first quarter of 2026. Analysts cited sputtering demand and the gap between the company’s high IPO valuation and its low profit potential as key drivers of the stock’s collapse.
A Starship launch abort on July 16 further pressured the stock. SpaceX’s Starship Flight 13 triggered a last-second abort when some of the mega-rocket’s 33 Raptor 3 engines failed to ignite moments before liftoff from Starbase, Texas. The setback extended the selling pressure on SpaceX shares, which had already faced weeks of losses tied to investor concerns over the company’s debt-funded artificial intelligence spending and potential Federal Reserve rate hikes.
Tesla shares also contributed significantly to Musk’s wealth decline. Tesla fell 15 percent on July 23 in its worst day in more than a year, erasing $18 billion from Musk’s fortune in a single session. The combined pressure from both companies has left Musk’s wealth denominated in hundreds of billions rather than the trillions he briefly commanded just weeks earlier.
The decline marks a dramatic reversal from June’s euphoria. When SpaceX went public on June 12, the stock surged 19 percent on its first day of trading, closing at $160.95 and briefly pushing Musk’s net worth above $1.4 trillion. The IPO was the largest on record, raising $75 billion and making 4,400 SpaceX employees millionaires. However, the post-IPO frenzy proved short-lived as the market repriced the company’s valuation downward in light of its operational challenges and financial losses.
Musk retains his position as the world’s richest person despite the losses, but his fortune now sits far below the historic highs of just five weeks prior. The dramatic swing underscores the volatility of wealth concentrated in publicly traded equities and the sensitivity of investor appetite to operational setbacks and financial performance.
Sources
- Bloomberg Billionaires Index — Elon Musk’s net worth at $709 billion as of July 27, 2026
- Yahoo Finance — SpaceX stock hit all-time low of $113.50 on July 28, 2026
- Quartz — SpaceX net losses of $4.9 billion in 2025 and $4.28 billion in Q1 2026
- Reuters — Starship Flight 13 abort on July 16 due to engine failures
- Forbes — Tesla fell 15% on July 23, costing Musk $18 billion
- WUSF — SpaceX IPO on June 12 at $135 per share, raised $75 billion, made 4,400 employees millionaires
- The Guardian — SpaceX shares fell below IPO price for first time on July 15; company made Musk world’s first trillionaire
- Hindustan Times — Musk’s net worth at $725.1 billion on July 24, 2026
