Elon Musk's net worth dropped by over $18 billion on Friday to $684 billion, marking a decline of more than $646 billion from his peak of over $1.33 trillion, according to Bloomberg data. The plunge comes as shares of Tesla and SpaceX retreat amid swirling merger speculation and ahead of SpaceX's upcoming earnings report. Tesla stock has fallen 37% from its 2026 high, while SpaceX shares dropped to $108 from an all-time high of $225, with its market cap shrinking from over $3 trillion to $1.4 trillion. The Wall Street Journal reported that Musk is considering merging SpaceX with Tesla, potentially selling or spinning off Tesla's Chinese operations to facilitate the deal. SpaceX is expected to report second-quarter revenue exceeding $6.8 billion when it publishes earnings on Tuesday.
Space Exploration Technologies Corp. Class A Common StockSpaceX shares dropped to $108 from $225 high, market cap shrunk from $3T to $1.4T, ahead of earnings.
Tesla IncTesla stock fell 37% from 2026 high, and merger speculation adds uncertainty.