A further decline in SpaceX shares on Monday cut Elon Musk’s net worth by more than US$20 billion, lowering his fortune below the US$700 billion threshold for the first time since December.
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Key Facts
- Shares of SpaceX dropped 4.8 per cent to around US$109.50 as of 10:50 a.m. US EDT Monday, extending a 50 per cent plunge for the stock since hitting an all-time high on June 16.
- Musk, whose SpaceX holdings include 4.8 billion shares and another 350 million stock options, saw his net worth cut by US$29.5 billion to US$695.7 billion, yet he still ranks well ahead of Google co-founders Larry Page (US$268.5 billion) and Sergey Brin (US$247.1 billion) as the world’s richest person.
- Musk’s fortune last ended a trading session below US$700 billion on Dec. 18, 2025 (US$680.6 billion).
- SpaceX’s declining stock value comes even after the firm’s successful test launch of its Starship rocket on Friday, as Wall Street appeared to express caution ahead of the test: JPMorgan analyst Seth Seifman wrote in a note earlier in the week there would be “plenty of analyze” from the latest Starship launch, though the firm expected “progress and setbacks” across dozens of more launches through 2027.
- An aborted Starship launch on July 16 also pushed SpaceX shares lower and reduced Musk’s fortune by more than US$45 billion to below US$800 billion.
Crucial quote
“(Former) trillionaire,” Musk wrote on X last week in an apparent nod to his declining fortune in recent weeks.
What to watch for
Whether SpaceX shares fall below US$100. Morgan Stanley analysts wrote on Friday that this threshold would imply investors would see no value in the rocket maker’s AI business. Still, some already see “zero or negative value” as the firm accelerates its spending on space and connectivity and “largely uncertain economics,” the analysts wrote.
Big number
About US$750 billion. That’s how much Musk’s net worth has declined since hitting a peak of US$1.45 trillion on June 16. Around US$116 billion of the decline is because Forbes removed Tesla options based on new vesting conditions agreed to by Musk and his automaker.
Key background
Musk saw his net worth reach multiple milestones throughout 2025, culminating in his trillionaire status following SpaceX’s initial public offering last month. He first crossed the US$700 billion threshold in December, just days after reaching US$600 billion, and hit US$800 billion in February. A now month-long rout in SpaceX shares comes despite optimism from analysts, including former Wedbush Securities analyst Dan Ives, who argued Musk’s rocket maker is “well-positioned to become a major hyperscaler” across connectivity, rocket launches and AI infrastructure. Other analysts have pointed to the possible value of Starship’s potential: UBS analyst Gavin Parsons wrote the latest launch was important because it was “intended to validate” capabilities required of the rocket’s launch ramp, including booster engine relight ability.
This story was originally published on forbes.com.
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