SpaceX, the company owned by Elon Musk, has lost over $1.2 trillion in market capitalization since mid-June.
This figure is roughly equivalent to the current value of Tesla, which is estimated at approximately $1.22 trillion. The decline was driven by a sharp drop in the share price following the rapid surge that occurred after the company went public.
While SpaceX shares traded at $225.60 in mid-June, the price fell to $113.50 by the close of trading on July 27. Consequently, the company’s stock value was cut nearly in half, leading to a massive reduction in its market capitalization. Against this backdrop, Musk previously jokingly referred to himself as a “former trillionaire.”
According to the Bloomberg Billionaires Index, Elon Musk became the first person in history to see his net worth exceed $1 trillion on June 12, driven by the start of SpaceX share trading. However, by June 24, his wealth had dropped to $957 billion, and it is currently estimated at approximately $709 billion. Despite this, Musk remains the richest person in the world.
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