Elon Musk’s Net Worth Drops Below $700 Billion After SpaceX Slide

Elon Musk’s fortune has fallen below the $700 billion mark for the first time since December after another sharp decline in SpaceX shares erased more than $20 billion from his wealth. The latest drop extends a prolonged selloff in the aerospace company’s stock, pushing Musk further away from the trillionaire status he achieved earlier this year.

SpaceX shares fell 4.8% to about $109.50 as of 10:50 a.m. EDT on Monday, extending the stock’s decline to roughly 50% since reaching a record high on June 16. The continued weakness in the company’s valuation reduced Musk’s net worth by $29.5 billion, leaving him with an estimated fortune of $695.7 billion.

Despite the decline, Musk remains the world’s richest person by a wide margin, ahead of Google co-founders Larry Page, whose fortune stands at $268.5 billion, and Sergey Brin, whose wealth is estimated at $247.1 billion. Musk’s last trading-day close below the $700 billion threshold came on Dec. 18, 2025, when his net worth was estimated at $680.6 billion.

The latest decline comes even after SpaceX successfully tested its Starship rocket on Friday. Ahead of the launch, JPMorgan analyst Seth Seifman said there would be “plenty to analyze” from the mission while noting the company should expect both “progress and setbacks” across dozens of Starship launches planned through 2027. Earlier, an aborted Starship launch on July 16 also weighed on SpaceX shares and cut more than $45 billion from Musk’s fortune, pushing it below $800 billion.

Last week, Musk appeared to acknowledge his recent financial losses in a post on X, writing, “(Former) trillionaire.”

Investors are now watching whether SpaceX shares fall below the $100 level. Morgan Stanley analysts said Friday that such a move would imply the market is assigning no value to the company’s artificial intelligence business. The analysts added that some investors already see “zero or negative value” in that segment as SpaceX increases spending on space exploration and connectivity projects while the long-term economics remain uncertain.

Since reaching a record net worth of $1.45 trillion on June 16, Musk’s wealth has declined by about $750 billion. Approximately $116 billion of that decrease resulted from the removal of Tesla stock options following new vesting conditions agreed to by Musk and the automaker.

Musk’s wealth reached several milestones during 2025, culminating in trillionaire status after SpaceX completed its initial public offering. He first surpassed $700 billion in December, only days after crossing the $600 billion mark, and exceeded $800 billion in February. Although SpaceX shares have been under pressure for more than a month, some analysts remain optimistic about the company’s long-term prospects. Former Wedbush Securities analyst Dan Ives has said SpaceX is “well-positioned to become a major hyperscaler” in connectivity, rocket launches and artificial intelligence infrastructure. UBS analyst Gavin Parsons also described the latest Starship test as an important step because it was “intended to validate” key launch pad capabilities, including booster engine relight performance.