Until just a few weeks ago, Elon Musk was at the center of market attention because of SpaceX’s listing. That debut crowned him the first person in history with more than $1 trillion. Today, however, the scenario has reversed, and his wealth has been rolling over from its peak. SpaceX has fallen below its offering price, while Tesla remains down approximately 32% since the start of 2026.
Musk’s Wealth in Free Fall
The collapse in the two stocks has hit Elon Musk’s personal wealth hard. He currently holds approximately 4.8 billion SpaceX shares, meaning that every decline affects him directly. As of July 31, his wealth had fallen to approximately $684 billion, according to Bloomberg data.
At its June 16 peak, it had approached $1.33 trillion, meaning that the overall loss exceeds $640 billion. In the past month alone, between $250 billion and $300 billion has evaporated from his wealth. Despite this, Musk remains firmly the wealthiest person in the world, with an enormous lead over his closest rivals. The decline in his wealth alone now exceeds the total wealth of almost every other billionaire in existence. Behind him, Google’s founders remain far behind, both below $300 billion.
SpaceX Heads Toward Its First Quarterly Report as a Listed Company
The first event to monitor comes on Tuesday, August 4. SpaceX (SPCX) will publish its first quarterly report as a listed company, a decisive test after months in which the stock was supported more by promises than by actual financial results. Analysts expect revenue to grow toward $6.88 billion, driven primarily by Starlink subscriptions and artificial intelligence. Investors will closely follow Starlink’s figures, as it has now become the true revenue engine of the entire group.
SpaceX’s Wall Street debut took place on June 12 at $135 per share, in the largest IPO ever carried out. After an initial rise, with an all-time high of $225, the decline began. It is currently around its lows at $108. The drop has pushed SPCX below its offering price, down approximately 52% from its all-time high. Making the event even more delicate is the imminent unlocking of shares held by initial investors, scheduled for August 6.
Tesla, Musk’s Other Deeply Troubled Front
On the Tesla (TSLA) front, the picture is no better, with the stock in negative territory since the start of the year. In July, TSLA lost 26.01%, closing at $311.21, and is down 37.61% from its all-time high of $498.74, as can be seen on the chart.
Downward pressure on Tesla increased after its second-quarter results, released on July 22. The figures showed an accelerating cash burn, caused by substantial investments in artificial intelligence and robotics. Gross margin also came in below analysts’ expectations, disappointing an already highly nervous market.
Since releasing its figures, TSLA has lost approximately 17% of its value. Musk also owns approximately 700 million Tesla shares, so this decline is also significantly eroding his wealth. Finally, rumors of a possible merger between Tesla and SpaceX are weighing on the situation, viewed with skepticism by investors.
