Elon Musk Loses $500 Billion After SpaceX Stock Crash

The net worth of Elon Musk declined by more than $500 billion from a June peak of $1.45 trillion. This loss followed a nearly 40% drop in the stock price of Space Exploration Technologies Corp., which fell from a peak of $225.64 to a market capitalization of approximately $1.86 trillion.

The decline occurred after the company's record June IPO, which originally priced shares at $135. The valuation reset followed a period of post-IPO euphoria and reports that the company has lost $13 billion since 2023. Additional pressure stemmed from geopolitical risks after Iranian state media identified Musk's Middle East operations, including Starlink, as potential military targets.

Despite the financial volatility, SpaceX continues its flight operations, including recent Starlink satellite launches from Vandenberg and preparations for Starship Flight 13. Analysts from Evercore ISI maintain an Outperform rating for the company, citing its vertical integration and near-monopoly access to orbit.