Elon Musk’s fortune has fallen below $700 billion for the first time since December after another sharp drop in SpaceX shares on Monday. The fall has pushed the world’s richest man even further away from his brief stint as a trillionaire.
According to Forbes, SpaceX shares fell 4.8% to around $109.50 by 10:50 am EDT on Monday. The latest drop extended the stock’s decline to nearly 50% since it reached an all-time high of $225.64 on June 16.
Musk owns about 4.8 billion SpaceX shares and has another 350 million stock options. The fall in the stock price wiped $29.5 billion from his wealth, bringing his net worth down to around $695.7 billion.
Musk appeared to acknowledge the fall in his wealth last week when he wrote “(Former) trillionaire” on X.
Even after the latest fall, Musk remains far ahead of Google co-founders Larry Page, whose fortune is estimated at $268.5 billion, and Sergey Brin, who has around $247.1 billion. Both rank well below Musk on the list of the world’s richest people.
SpaceX shares keep falling despite Starship launch
The decline in SpaceX’s stock came despite the company’s successful test launch of its Starship rocket on Friday.
Wall Street appeared to be cautious ahead of the launch. JPMorgan analyst Seth Seifman wrote in a note earlier in the week that there would be “plenty of analysis” from the latest Starship test. He also said the company should expect both “progress and setbacks” as it carries out dozens more launches through 2027.
SpaceX shares had already taken a hit after a Starship launch was aborted on July 16. That incident wiped more than $45 billion from Musk’s fortune and pushed his wealth below $800 billion.
Could SpaceX stock fall below $100?
The next key level for investors to watch is $100 per share of SpaceX. Morgan Stanley analysts said on Friday that a fall below $100 would suggest investors are assigning no value to SpaceX’s artificial intelligence business.
Musk’s fortune has fallen by around $750 billion from its peak of $1.45 trillion on June 16.
About $116 billion of that decline came after Forbes removed Tesla stock options from its calculation of Musk’s wealth. The change followed new vesting conditions agreed upon by Musk and Tesla.
Musk became a trillionaire after SpaceX IPO
Musk’s wealth reached several major milestones in 2025. He first crossed the $600 billion mark and then passed $700 billion in December. His fortune later reached $800 billion in February.
He became the world’s first trillionaire after SpaceX went public last month. The company’s blockbuster Nasdaq debut on June 12 sent its stock soaring, with shares reaching an all-time high of $225.64 just four days later.
The rise in SpaceX shares briefly pushed Musk’s wealth to $1.45 trillion, making him the world’s first trillionaire.
But the stock has since lost around half of its value. SpaceX shares were trading at around $114 at the time of writing, while Musk confirmed on July 24 that he was no longer a trillionaire.
Despite the month-long fall in SpaceX shares, some analysts remain optimistic about the company’s future.
SpaceX also holds $1.2 billion in Bitcoin
SpaceX’s growing role in the cryptocurrency market has also drawn attention.
The company disclosed in a filing that it holds 18,712 Bitcoin on its balance sheet. With Bitcoin trading at around $64,151.11, those holdings are worth roughly $1.2 billion.
SpaceX’s falling share price has also hit crypto contracts linked to the company on Hyperliquid.
The contract, which closely follows SpaceX’s actual stock price, has dropped about 50% from its June 16 peak of $228.74 to around $114.50.
It saw $227 million in trading volume and $164 million in open interest over the past 24 hours.
Musk is still the world’s richest person, but his wealth has fallen sharply from its $1.45 trillion peak.