The rocket company, which recently commanded a valuation exceeding $2 trillion, saw its stock slide to $156 on Tuesday. While this remains above the $150 debut price from June 12, the sudden volatility underscores growing market anxiety regarding an AI bubble and potential interest rate hikes. Skepticism is mounting among analysts who point to SpaceX’s $4.9 billion loss in 2025 and the staggering $12.7 billion in capital expenditures funneled into its AI segment.
Elon Musk slips from trillionaire rank as SpaceX shares retreat
A global sell-off in tech stocks has stripped Elon Musk of his trillionaire status, dragging his net worth down to $957 billion. The decline follows a sharp correction in SpaceX shares, which dropped over 30% from their mid-June intraday peak as investors reassessed the company’s ambitious, capital-intensive roadmap.
Musk’s financial position remains heavily concentrated in his aerospace venture, which accounts for roughly 80% of his total net worth. His Tesla holdings, currently valued at $158 billion, also faced downward pressure during the broader market retreat. Despite the cooling of his fortune, the gap between Musk and the world’s second-richest person, Larry Page, remains massive at approximately $660 billion. The next major hurdle for SpaceX arrives with the expiration of the company's lockup period, a milestone that will force early investors to decide whether to hold or cash out their stakes.
Comments (0)
No comments yet. Be the first!