Elon Musk Loses $600 Billion in Six Weeks
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Elon Musk has seen his fortune plummet from $1.45 trillion to less than $700 billion in six weeks. Having become the first trillionaire in history in June 2026 due to the IPO of SpaceX, his wealth has been affected by the volatility of SpaceX and Tesla stocks. By the end of July, Forbes estimated his fortune to be below $700 billion. The value of SpaceX shares has dropped by nearly 50% since its peak, also impacting Tesla. By early August, his fortune was stabilized around $777 billion according to the Bloomberg Billionaires Index. Musk holds about 4.76 billion shares and options in SpaceX and nearly 11% of Tesla in unvested shares. Despite this loss, he remains the richest man in the world, but the fragility of his trillionaire status is highlighted by this rapid decline.
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