Elon Musk’s net worth fell below the $900 billion mark on Monday after continued weakness in SpaceX shares, according to BlockBeats. SpaceX dropped 3.8% to nearly $140, close to its $135 IPO price, while Tesla fell 3% over the same period. The pullback wiped $37.9 billion from Musk’s fortune, leaving him at $879.3 billion.
Even after the decline, Musk remained the world’s richest person, ahead of Google co-founders Larry Page at $290.1 billion and Sergey Brin at $267.6 billion. The report said Musk holds 4.8 billion SpaceX shares and 350 million options, along with about 700 million Tesla shares.
Musk’s fortune previously peaked at $1.45 trillion on June 16, when SpaceX traded above $225, a record high. Since then, the stock has fallen more than 38%. Despite the recent weakness, Wall Street analysts remain broadly bullish on SpaceX. Raymond James set an $800 target price, implying a market value above $10 trillion, while FactSet data showed an average analyst target of $236. Arete Research, Morgan Stanley and Goldman Sachs listed targets of $401, $300 and $205, respectively.
Elon Musk’s net worth fell below $900 billion on Monday as SpaceX shares continued to decline, BlockBeats reported on July 14. His latest net worth stood at $879.3 billion.
SpaceX fell 3.8% on Monday to nearly $140, close to its $135 IPO price. Tesla shares were down 3% over the same period. The latest pullback erased $37.9 billion from Musk’s fortune.
Even after the drop, Musk remained the world’s richest person, ahead of Google co-founders Larry Page at $290.1 billion and Sergey Brin at $267.6 billion.
The report said Musk holds 4.8 billion SpaceX shares and 350 million options, and also owns about 700 million Tesla shares.
Musk’s wealth peaked at $1.45 trillion on June 16, when SpaceX rose above $225 and reached a record high. Since then, the stock has declined by more than 38%.
Wall Street analysts, however, remain broadly bullish on SpaceX. Raymond James set an $800 price target, implying a valuation above $10 trillion. According to FactSet data, the average analyst target is $236. Arete Research set a $401 target, Morgan Stanley put it at $300, and Goldman Sachs at $205.
Raymond James analyst Brian Gesuale said SpaceX is “building the foundational platform for the next generation of industrial capacity.”
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