Elon Musk's Wealth Plummets After SpaceX, Tesla Stock Drop
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Insights by Echo AI
Elon Musk, the world's richest person, has seen his fortune decrease by nearly half in six weeks, primarily due to the stock price drop of his companies SpaceX and Tesla. According to Bloomberg's Billionaires Index, Musk's net worth has fallen from $1.33 trillion to approximately $684 billion, making him no longer a trillionaire. This significant loss is attributed to heavy selling in both companies' shares following SpaceX's stock market debut last month. Despite the substantial decline, Musk remains the wealthiest individual globally.
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