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Global Markets

Elon Musk's Fortune Drops Below $900 Billion as SpaceX Stock Slides Toward IPO Price

724FinanceGökberk Uçar
Elon Musk's Fortune Drops Below $900 Billion as SpaceX Stock Slides Toward IPO Price

Elon Musk's net worth fell below $900 billion on July 13 as SpaceX shares slid toward their initial public offering price, cutting $37.9 billion from his wealth. The rocket manufacturer's stock declined 3.8% to just under $140, nearing its $135 IPO level, while Tesla shares also dropped 3%. SpaceX has experienced a 38% decline from its peak of $1.45 trillion on June 16, with shares falling in 11 of 17 trading sessions since its record debut.

Musk's Wealth Volatility

  • ■SpaceX shares have declined in 11 of 17 trading sessions post-IPO.
  • ■Musk holds 4.8 billion SpaceX shares and 350 million stock options, alongside approximately 700 million Tesla shares.
  • ■Tesla's stock followed a similar downward trajectory, contributing to overall wealth erosion.

    • Market Sentiment and Investment Outlook

  • ■Raymond James set an $800 price target, while Arete Research projected $401 and Morgan Stanley $300.
  • ■Analysts highlight SpaceX's role in building a 'foundational platform for next-generation industrial capacity'.
  • ■Dan Ives of Wedbush Securities called SpaceX 'one of the most differentiated assets in the tech market'.
    • The SpaceX stock volatility reflects investor anxiety amid high expectations, yet its long-term potential as a hyperscaler in connectivity, launches, and AI infrastructure remains compelling. This decline underscores the intertwined risks and rewards in Musk's portfolio, particularly within aviation logistics and space technology sectors.
    Gökberk Uçar

    Financial Analyst: Gökberk Uçar

    Aviation Logistics and Cargo Expert. Analyst reading global air freight pricing, airline operating margins, and tech product airbridge supplies.

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