Elon Musk loses half his wealth amid collapse of Tesla and SpaceX shares - Sarmad
The wealth of American billionaire Elon Musk is under unprecedented pressure after losing more than half its value compared to its all-time peak, amid a sharp downturn affecting his two main companies, SpaceX and Tesla, as investors reassess growth expectations linked to artificial intelligence and technology.
Musk’s wealth peaked at approximately $1.45 trillion on June 16, 2026, before falling to $720.6 billion by midday trading on Tuesday on Wall Street, according to Forbes data.
His wealth had peaked at around $1.45 trillion on June 16, before dropping to $720.6 billion by midday trading on Tuesday on Wall Street, according to real-time Forbes data, representing a loss of $729.4 billion, equivalent to a 50.3% decline. Tuesday, July 28.
SpaceX’s shares fell by about 50% from their all-time high of $225.64, closing near $113.50, wiping out more than $1.2 trillion from its market capitalization, roughly equivalent to Tesla’s entire market value.
The stock continued its losses for the thirteenth session out of sixteen, signaling ongoing selling pressure.
Tesla also faced a difficult period, with its shares falling to levels close to their lowest in a year. Analysts described the technical situation as reaching “the most oversold conditions since 2025,” amid concerns over slowing electric vehicle sales growth, intensifying global competition, and rising capital expenditure related to AI and autonomous driving projects.
These declines come as technology markets undergo a broad reassessment of expectations tied to artificial intelligence, following a wave of massive investments that had pushed company valuations to record highs.
Investors are questioning whether major companies, including Musk’s firms, can convert these investments into actual profits, particularly in projects involving self-driving vehicles, robots, and space exploration.
Although Musk remains among the wealthiest people in the world, his loss of $729.4 billion over a few weeks highlights how closely the fortunes of top billionaires are tied to the stock performance of their companies.
