Someone start a GoFundMe!
Elon Musk woke up this week to find a $650 billion reported hit to his fortune over just five weeks as Tesla and SpaceX took a nosedive together.
Six weeks ago, Elon Musk was the richest person who had ever lived. On June 16, three days after SpaceX closed its June 12, 2026 initial public offering, SpaceX’s market capitalization hit an all-time high of $2.64 trillion, and Musk’s paper wealth peaked near $1.45 trillion. By the close on July 23, the Bloomberg Billionaires Index pegged him at roughly $738 billion. Somewhere between $650 billion and $700 billion of paper fortune has vaporized in about five weeks. He is, for the moment, still the wealthiest person on the planet by a wide margin, about $650 billion ahead of the next-richest person.
In addition to his big loss this week, SpaceX’s looming lockup expiration, larger than the entire IPO float, could flood the market with shares and extend Musk’s losses further.
Ooh, gorl! Sorry to all the people investing and supporting in this chopped unc!
Be the first to comment on "OMG, Elon Musk has lost $650 billion in 5 weeks as Tesla and SpaceX plummet"