Elon Musk Loses Nearly Half of His Wealth as SpaceX Shares Crash 46%. More Downside Ahead?
Musk’s fortune has dropped more than $600 billion since June 16 as SpaceX shares fell 46%, according to the Bloomberg Billionaires Index.
- Elon Musk's net worth has plummeted to $684 billion, a decline of more than $600 billion since peaking at about $1.33 trillion on June 16, according to the Bloomberg Billionaires Index.
- Shares of Space Exploration Technologies Corp have tumbled 46% from a June 16 high of $201.80 to a record low of $108.37, eroding a significant portion of Musk's wealth.
- Tesla Inc shares fell 17% following second-quarter results on July 22, which revealed the company's first cash negative quarter in two years despite higher revenues.
- Short interest in SpaceX rose to 219.3 million shares as of July 29, up sharply from 23.3 million shares on June 16, intensifying market pressure on the company.
- Next week SpaceX reports quarterly earnings for the first time as a public company, while 911.5 million insider shares unlock next month, potentially pressuring prices further.
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Elon Musk, CEO of Tesla and SpaceX, lost nearly half of his fortune in six weeks, he comes out Saturday from the Billionaires Index of the financial news agency Bloomberg. With an estimated fortune of $684 billion, however, he remains by far the richest person in the world. ...
The Economic Times
Times of IndiaElon Musk loses nearly half of his wealth as SpaceX shares crash 46%. More downside ahead?
Musks wealth peaked at around $1.33 trillion on June 16, when SpaceX shares soared to a lifetime closing high of nearly $202 apiece. However, as the shares crashed, Musks net wealth dropped to $684 billion, Bloomberg reported. Notably, the over $600 billion wealth erosion is higher than any other billionaire's total wealth, except Musk himself.
Tesla CEO Elon Musk has lost nearly half of his fortune in six weeks. This was revealed on Saturday by the Billionaires Index of the...
Mumbai: The old saying goes that the higher the altitude, the greater the fall. This is borne out by the ups and downs of Elon Musk's wealth. His personal wealth skyrocketed after his space company SpaceX was listed on the stock market. On June 16...
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