Elon Musk Companies Lose $1.5 Trillion in Combined Value

The companies led by Elon Musk have seen a combined market capitalization loss of $1.5 trillion since mid-June 2026. Space Exploration Technologies Corp. experienced a valuation drop of nearly 50%, with its stock falling from a peak near $225 to a low of $107 on Tuesday before settling around $115. This decline reflects investor skepticism toward the company's lunar and space-based data center goals.

Tesla Inc. shares fell 18% immediately following a recent earnings report, eventually sliding 25.4% over the last month and 30% year-to-date. Market volatility remains high as SpaceX prepares to report quarterly earnings and faces the expiration of an early lock-up period, which could allow insiders to sell over 900 million shares.

Following SpaceX's February 2, 2026, all-stock acquisition of xAI—which had previously acquired X Corp in March 2025—speculation has emerged regarding a merger of Tesla Inc. and the Boring Company into a single entity called SpaceXAI. Traders on the Kalshi platform currently price the probability of Tesla Inc. being absorbed by 2028 at 68%.