Elon Musk's net worth dropped below $900 billion on Monday as SpaceX shares declined to just under $140, nearing the company's $135 IPO price. The stock's fall erased nearly $37 billion from Musk's fortune, bringing his net worth to $882.7 billion, according to Forbes real-time billionaires list. SpaceX went public on June 12, 2026, raising $75 billion in its debut.
SpaceX shares have been sliding since their blockbuster debut on the US stock market last month. The stock dropped 4.45% on Monday afternoon, continuing a pullback after initial gains. The IPO valued SpaceX at a level that sparked significant investor interest, but the recent decline has brought the share price close to the initial offering price, impacting Musk's net worth substantially.
The decline in SpaceX's stock price is notable given the company's high-profile IPO and its position in the aerospace and AI sectors. Musk's net worth had surged following the public offering, reflecting investor enthusiasm. The current pullback highlights the volatility often seen in newly public companies, especially those with large valuations and ambitious growth plans.
SpaceX's IPO on June 12, 2026, raised $75 billion, marking one of the largest public offerings in recent years. The company's stock price movement continues to be closely watched by investors and market analysts, with Musk's net worth serving as a key indicator of market sentiment around the firm.