Elon Musk loses record $350bn in a week as SpaceX slumps

Price Action Impact 4

โดย The Telegraph·Read original

Summary · why it matters

Elon Musk has suffered the biggest ever loss of personal wealth after a dramatic fall in the value of SpaceX. The trillionaire's net worth dropped by $350bn in a week following a decline of almost 30pc in his rocket company's share price from its peak last Tuesday, falling from $1.45tn to just under $1.1tn according to Forbes calculations. The decline is worth more than the entire wealth of the world's second-richest man, Larry Page, whose fortune stands at just over $299bn. SpaceX shares surged by as much as 67pc in their opening three days after a record-breaking initial public offering that valued it at more than $1.8tn, but the stock has now fallen for three consecutive days, shedding around $928bn in market value from a peak of $2.9tn to just over $2tn. Mr Musk previously held the record for the single-biggest loss in wealth of any individual when his fortune declined by an estimated $165bn in 2022 as Tesla shares plunged.