Elon Musk’s net worth has taken a sharp hit after a difficult week for Tesla and SpaceX. Here’s what changed.

Tesla shares plunged 18% during the week to close at $313.03 on Friday, their worst weekly slump since 2022. And SpaceX's stock continued its downward slide, dropping 7.2% over five days to close at $115.07 Friday, its lowest since the company's record initial public offering last month.

Elon Musk has seen one of the steepest declines in paper wealth ever recorded as shares of SpaceX (NASDAQ: SPCX) continue to slide following the companys blockbuster public debut. After raising $75 billion in its June 12,

SpaceX's IPO prospectus revealed Elon Musk is barely borrowing against his shares, leading Bloomberg to add $45 billion to its net worth estimate.

Elon Musk’s July slump is getting worse today. Tesla and SpaceX, the companies that helped Musk achieve trillionaire status last month, are now moving in the opposite direction, cutting his wealth by billions.

Elon Musk is the richest person in the world, but his approach to investing is surprisingly simple: He doesn't really buy stocks. In a wide-ranging interview with entrepreneur and investor Nikhil Kamath,

With the IPO of SpaceX (formally Space Exploration Technologies Corp; $SPCX) June 12, there has been endless commentary on Elon Musk’s status as the world’s first ...

One small step for SpaceX, and one massive leap for Musk.

The typical American household would have to work more than 11 million years to make Elon Musk's level of wealth, Warren said in a post on X.