Tesla Shares Slide Nearly 6% as SpaceX 16% Plunge Cuts Musk Wealth
TSLA•Elon Musk's net worth fell to $946 billion after a 16% SpaceX share plunge erased $240 billion and a nearly 6% Tesla stock drop. His wealth slipped from about $1.11 trillion two weeks earlier as his 42% SpaceX stake and 12% Tesla holding absorbed tech selloff losses.
1. Net Worth Decline
Elon Musk's personal fortune fell to $946 billion after peaking above $1.32 trillion following SpaceX's IPO surge. The drop marks a decline from about $1.11 trillion less than two weeks earlier, ending his short-lived trillionaire status.
2. SpaceX Stock Pullback
SpaceX shares, which debuted at $135 and briefly reached $225.64, have since fallen over 30% from their peak, recently trading around $154. A single 16% one-day drop erased an estimated $240 billion from Musk's stake.
3. Tesla Share Movement
Tesla stock dipped nearly 6% following the SpaceX selloff, intensifying losses in Musk's portfolio. The decline reflects broader tech sector caution over AI spending and high capital outlays.
4. Wealth Exposure and Market Context
Musk holds 42% of SpaceX and about 12% of Tesla, concentrating his net worth in two stocks. With roughly 5%–7% of SpaceX's public float sold short, the pullback underscores investor wariness on tech valuations and interest rates.
