SpaceX lost nearly $1 tn since its peak, but Elon Musk retained his trillionaire status - A breakdown of his net worth

Just days after making history as the world's first trillionaire following SpaceX's stock market debut, Elon Musk's wealth has dropped from a peak of $1.32 trillion to around $1.1 trillion at the time of writing, according to Forbes Billionaire List. The drop between June 16 and a week later is somewhere around $240 billion.

SpaceX shares dropped around 4% on Tuesday opening to around $149 apiece, extending a week-long slump that wiped out roughly $1 trillion in market value from the company's peak of $277 per share on June 16.

The latest drop in SpaceX's stock value has taken its cumulative decline from its June 16 peak to more than 30%. On Tuesday, the stock recovered some ground after a major drop, but remained firmly in negative territory.

The space and AI company saw huge gains after its blockbuster IPO on June 12, SpaceX debuted with a valuation of about $1.8 trillion, which quickly surged to more than $2.7 trillion, briefly making it more valuable than Amazon and Microsoft in terms of market capitalization.

SpaceX shares surged after the company listed on Nasdaq, climbing more than 50% above their offering price of $135 as investors rushed to back Elon Musk's ambitious vision for the space and technology giant.

However, the rally has quickly lost steam. By the end of last week, the stock had given up most of its post-listing gains, leaving many investors who bought after the IPO with little to show for the initial surge.

The pullback has also reduced profits for retail investors who secured IPO allocations through brokerage firms such as Robinhood, Fidelity and SoFi. Although many individual investors received far fewer shares than they had applied for, in some instances only a single share or a small allocation, those shares were purchased at the IPO price of $135, allowing investors to remain in profit despite the recent correction.

Eshita Gain is a digital journalist at Mint, where she joined in May 2025. She writes on corporate developments, personal finance, markets, and business trends, with a focus on delivering timely and relevant stories to a broad audience. <br><br> While her core beat lies in business and finance, she is not confined to a single niche and frequently explores stories across domains, including international relations and policy developments. <br><br> She holds a postgraduate diploma in business and financial journalism by Bloomberg from the Asian College of Journalism (ACJ), Chennai. During her time there, she received rigorous training in tracking financial data, interpreting corporate filings, and reporting on business developments. She has pursued her graduation from St. Joseph’s University, Bengaluru in a multi-disciplinary course. Her majors included Journalism, International Relations, peace and conflict studies. <br><br> Eshita has previously worked in digital marketing, which enables her to write SEO friendly copies that are clear and engaging. <br><br> Her primary interest lies in breaking down complex subjects and writing clear, accessible copies that inform readers. She aims to bridge the gap between technical financial language and everyday understanding. Outside the newsroom, Eshita enjoys reading non-fiction, and exploring new places, constantly seeking fresh perspectives and stories beyond headlines.

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