Elon Musk’s net worth drops below $900 billion as SpaceX stock continues to tumble after IPO
Elon Musk’s fortune fell below $900 billion on Monday as SpaceX shares continued to erase gains and approach IPO prices.
Shares of SpaceX fell 4.45% Monday afternoon to just under $140, approaching the stock’s $135 IPO price. The artificial intelligence and rocket company made a blockbuster debut on the US stock market last month, raising $75 billion.
The recent pullback in SpaceX shares wiped out about $37 billion from Musk’s net worth, pushing his fortune to $882.7 billion, according to data from Forbes’ real-time billionaires list.
SpaceX witnessed massive gains after going public on June 12, 2026. It debuted at a valuation of around $1.8 trillion, which quickly rose to over $2.7 trillion, briefly making it more valuable than Amazon and Microsoft in terms of market cap.
Musk loses trillionaire status as SpaceX shares fall from record highs
Musk, who also leads Tesla and Since then, his stock has fallen more than 38% and his fortune has fallen sharply.
Although his wealth has decreased significantly, Musk remains the richest person in the world, just ahead of Google co-founders Larry Page and Sergey Brin, whose net worth is $290.7 billion and $268.1 billion, respectively.
Breakdown of Musk’s wealth
According to Forbes, Musk owns a roughly 38% stake in the newly listed company, which consists of 4.8 billion shares and an additional 350 million stock options with an exercise price of $8.40 per share. This accounts for more than half of his net worth. SpaceX, founded in 2002, acquired xAI in February in a deal that valued the combined company at $1.25 trillion.
It also owns about 11% of Tesla. Musk first backed the electric vehicle (EV) maker in 2004 and has served as its chief executive officer (CEO) since 2008. It restricted his shares in the company and gave him another 8% stake he would lose if he didn’t stay at Tesla until January 2028.
While the bulk of his wealth is held in SpaceX and, to a lesser extent, Tesla, Musk also founded and owns stakes in tunneling company Boring Company and brain implant company Neuralink, which fill out the rest of his current billion-dollar portfolio.
Wall Street continues to rise on SpaceX shares
According to Forbes, although the rally in SpaceX shares has lost momentum in recent weeks, Wall Street points to a largely upward trend in the stock.
Raymond James set a price target of $800, implying a market valuation well above $10 trillion. Analyst Brian Gesuale argued that his firm’s position on SpaceX comes as Musk’s rocket maker is “building the foundational platform for the next generation of industrial capability.”
According to FactSet data, brokers expect SpaceX shares to be worth $236 on average; Arete Research has a target of $401, Morgan Stanley has a target of $300 and Goldman Sachs has a target of $205.
