New Delhi, Aug 2, 2026 (Yes Punjab News)
Elon Musk has witnessed a dramatic decline in his personal wealth, losing more than $600 billion in just over a month as shares of SpaceX and Tesla came under sustained selling pressure. The sharp correction follows an extraordinary surge in the value of his companies earlier this year, even as Musk continues to push ahead with ambitious investments in artificial intelligence, autonomous driving and robotics.
Musk’s estimated net worth has fallen to about $684 billion from a record high of nearly $1.33 trillion on June 16, when SpaceX’s market debut briefly made him the world’s first trillionaire.
The biggest blow came from SpaceX, whose shares have retreated sharply after an explosive start following its historic initial public offering. The aerospace company raised $75 billion in the largest IPO ever recorded and listed at $135 per share before opening at $150. Investor enthusiasm initially drove the stock to an all-time closing high of nearly $202 on June 16.
Since then, however, SpaceX shares have declined around 46 per cent, falling to a record low of $108.37 and erasing hundreds of billions of dollars from Musk’s wealth.
Tesla has also contributed to the decline. The electric vehicle maker’s shares have dropped 17 per cent since the company announced its second-quarter earnings on July 22. The company missed analysts’ profit expectations for the first time in more than two years and reported negative free cash flow, citing rising expenditure on artificial intelligence and robotics, lower average vehicle selling prices, and weaker regulatory credit revenue.
Despite the setback, Musk has reaffirmed Tesla’s long-term investment strategy. The company plans to spend more than $25 billion this year—almost three times last year’s investment—to accelerate development of AI-powered self-driving technology, robotaxi services and humanoid robots.
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