BIST10013.501,55▼ -1.36%Dimon Warns: Market Risks Run Deeper Than ExpectedUSD/TRY47.6627▲ 0.20%Dow Jones' Sharpest Single-Day Drop Since 2025: How Markets React?EUR/TRY54.5350▲ 0.30%Fed's Rate Policy: Market Expectations and Strategic ImplicationsBTC/USD$64,006.31▲ 0.09%Treasury Yields Surge to Two-Decade High After Fed Rate Decision: Chip Sector and Rare Earth War ImpactGOLD6.218,08▲ 0.15%Fed's Split Decision: Rates Held Steady Amid High Inflation and Economic UncertaintyBRENT$90.40▼ -0.37%Fed's Harsh Inflation Message: Could It Spark Commercial Loan Tightening?Trump's Iran Attack Warning: How Will U.S. Markets React?BIST10013.501,55▼ -1.36%Dimon Warns: Market Risks Run Deeper Than ExpectedUSD/TRY47.6627▲ 0.20%Dow Jones' Sharpest Single-Day Drop Since 2025: How Markets React?EUR/TRY54.5350▲ 0.30%Fed's Rate Policy: Market Expectations and Strategic ImplicationsBTC/USD$64,006.31▲ 0.09%Treasury Yields Surge to Two-Decade High After Fed Rate Decision: Chip Sector and Rare Earth War ImpactGOLD6.218,08▲ 0.15%Fed's Split Decision: Rates Held Steady Amid High Inflation and Economic UncertaintyBRENT$90.40▼ -0.37%Fed's Harsh Inflation Message: Could It Spark Commercial Loan Tightening?Trump's Iran Attack Warning: How Will U.S. Markets React?

Global MarketsJuly 30, 2026 at 12:41 AM

Elon Musk Drops Below Trillionaire Status as X Money Launches Amid Market Turmoil

724FinanceEge Kaan

Elon Musk Drops Below Trillionaire Status as X Money Launches Amid Market Turmoil

Elon Musk publicly acknowledged his status drop to '(Former) Trillionaire' on July 24, as his net worth fell to $695.7 billion, a 50% decline from his $1.45 trillion peak. This came amid SpaceX shares plunging 50% from their June high. Musk launched X Money the same week, but the timing raised questions about his 'money won’t matter' claim. Tesla’s Q2 earnings dropped to 1.4% from 4.1%, while SpaceX faced pressure from Starship test delays and the Cursor acquisition. Markets now focus on how Musk’s AI and robotics vision will reshape the economy.

X Money’s success could force markets to reassess the role of central banking. If adoption grows, it may signal a shift toward decentralized financial systems, testing Musk’s long-term vision.