New Delhi, August 2,2026 | SKY LINK TIMES
From Trillionaire to $684 Billion: Elon Musk’s Fortune Plunges by $600 Billion
Billionaire entrepreneur Elon Musk has witnessed one of the biggest declines in personal wealth in history, with his fortune shrinking by more than $600 billion in just over a month. The sharp fall comes after significant declines in the share prices of SpaceX and Tesla, even as Musk continues investing aggressively in artificial intelligence, autonomous driving technology and robotics.
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Musk’s Fortune Falls Below $700 Billion
According to reports, Musk’s net worth has dropped to approximately $684 billion, down from a record $1.33 trillion on June 16, when SpaceX’s blockbuster stock market debut briefly made him the world’s first trillionaire.
The loss of more than $600 billion is greater than the total wealth of every other billionaire in the world except Musk himself, highlighting the unprecedented scale of the decline.
SpaceX Share Price Drives Major Wealth Erosion
The biggest contributor to Musk’s financial setback has been the steep correction in SpaceX shares following the company’s historic initial public offering (IPO).
SpaceX raised $75 billion in what became the largest IPO in history, listing its shares at $150, above the IPO price of $135.
Strong investor demand initially pushed the stock up by more than 50 per cent within three trading sessions, with shares reaching a record closing high of nearly $202 on June 16.
However, the rally proved short-lived. Since then, SpaceX shares have fallen by around 46 per cent, hitting a record low of $108.37 and erasing hundreds of billions of dollars from Musk’s personal fortune.
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Tesla Earnings Add to the Pressure
Musk’s wealth has also been affected by the recent decline in Tesla shares.
The electric vehicle manufacturer’s stock has fallen 17 per cent since the company announced its second-quarter earnings on July 22.
Tesla missed analysts’ profit expectations for the first time in more than two years and reported negative free cash flow. The company attributed the weaker financial performance to rising investments in artificial intelligence and robotics, lower average vehicle selling prices and reduced regulatory credit revenue, despite higher vehicle deliveries.
Musk Remains Focused on AI and Robotics
Despite the sharp decline in his wealth, Musk has reaffirmed his commitment to long-term investments in next-generation technologies.
Tesla plans to invest more than $25 billion this year—nearly three times last year’s spending—to accelerate the development of AI-powered self-driving systems, robotaxis and humanoid robots.
Musk believes these technologies will play a crucial role in the company’s future growth, even if they continue to put pressure on short-term profitability.
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