Elon Musk remains the world's richest person, but his fortune has suffered one of the sharpest declines ever recorded after heavy selling in Tesla and SpaceX shares. According to the Bloomberg Billionaires Index, Musk's net worth has fallen below the level it stood at before SpaceX's blockbuster stock market debut. His estimated fortune has dropped from around $1.45 trillion to just over $700 billion, wiping out roughly $650 billion in paper wealth within just a few weeks. The decline follows a steep correction in SpaceX shares, which have fallen around 45% since their record-breaking IPO, while Tesla stock has dropped approximately 17% after reporting weaker-than-expected second-quarter earnings.

Elon Musk Loses Nearly $650 Billion In Weeks | Tesla And SpaceX Selloff Ends Trillionaire Status

Elon Musk has suffered the largest personal wealth decline ever recorded after a sharp drop in the value of SpaceX.&nbsp;The billionaire's net worth fell by $350 billion within a week as shares of his rocket company slid nearly 30 per cent from their peak reached last Tuesday. According to Forbes estimates, Musk's fortune has declined from $1.45 trillion to just under $1.1 trillion.&nbsp;The scale of the loss exceeds the net worth of the world's second-richest person, Larry Page, estimated at slightly above $299 billion.&nbsp;Musk became the world's first trillionaire earlier this month following the blockbuster stock market debut of his rocket, satellite and artificial intelligence company. Investor enthusiasm drove SpaceX shares up as much as 67 per cent during their first three trading days after a record-setting initial public offering that valued the company at more than $1.8 trillion.&nbsp;Since then, the stock has retreated for three straight sessions, erasing roughly $928 billion in market value. The company's valuation has fallen from a peak of $2.9 trillion to just over $2 trillion.&nbsp;This is not the first major setback for Musk's wealth. He previously held the record for the largest single loss of personal fortune when his net worth dropped by an estimated $165 billion in 2022 amid a steep decline in Tesla shares.&nbsp;Also Read: <a href="https://www.wionews.com/world/heatwave-in-france-proves-deadly-as-40-drown-eiffel-tower-louvre-close-early-1782236812664">Heatwave in France proves deadly as 40 drown; Eiffel Tower, Louvre close early</a>&nbsp;Musk's fortune is largely tied to his 38 per cent holding in SpaceX, along with an 11 per cent stake in Tesla and ownership interests in several other start-ups.&nbsp;SpaceX recorded its worst trading day since becoming a public company on Monday, with shares plunging 16.4 per cent after the company announced plans for its first investment-grade bond offering. The move aims to raise at least $20 billion to support its artificial intelligence expansion plans.&nbsp;The fundraising effort has intensified concerns about whether major technology companies can continue financing the enormous investments required to compete in the AI sector. SpaceX said on Monday that it holds more than $100 billion in cash.&nbsp;Despite the recent sell-off, SpaceX shares ended Monday at $154, remaining above the company's initial public offering price of $135.&nbsp;However, enthusiasm surrounding artificial intelligence stocks and the SpaceX listing appears to be cooling across global markets.&nbsp;The Nasdaq index in New York fell 1.3 per cent on Monday, weighed down by a 5 per cent decline in Alphabet shares and a 4.8 per cent drop in Amazon.&nbsp;Market volatility extended to Asia on Tuesday. Trading on South Korea's benchmark Kospi index was temporarily halted after a sharp sell-off in AI chipmakers pushed the index down by 10 per cent. Japan's Nikkei fell 3.6 per cent, while US stock futures also pointed to significant losses before the opening bell.

Musk's fortune is closely tied to his 38 per cent stake in SpaceX, whose shares have retreated for three consecutive sessions. The slide has wiped out around $928 billion in market value, bringing the company's valuation down from a peak of $2.9 trillion to slightly over $2 trillion.

Elon Musk has suffered the largest personal wealth decline ever recorded after a sharp drop in the value of SpaceX. The billionaire's net worth fell by $350 billion within a week as shares of his rocket company slid nearly 30 per cent from their peak reached last Tuesday. According to Forbes estimates, Musk's fortune has declined from $1.45 trillion to just under $1.1 trillion. The scale of the loss exceeds the net worth of the world's second-richest person, Larry Page, estimated at slightly above $299 billion. Musk became the world's first trillionaire earlier this month following the blockbuster stock market debut of his rocket, satellite and artificial intelligence company. Investor enthusiasm drove SpaceX shares up as much as 67 per cent during their first three trading days after a record-setting initial public offering that valued the company at more than $1.8 trillion. Since then, the stock has retreated for three straight sessions, erasing roughly $928 billion in market value. The company's valuation has fallen from a peak of $2.9 trillion to just over $2 trillion. This is not the first major setback for Musk's wealth. He previously held the record for the largest single loss of personal fortune when his net worth dropped by an estimated $165 billion in 2022 amid a steep decline in Tesla shares. Also Read: Heatwave in France proves deadly as 40 drown; Eiffel Tower, Louvre close early Musk's fortune is largely tied to his 38 per cent holding in SpaceX, along with an 11 per cent stake in Tesla and ownership interests in several other start-ups. SpaceX recorded its worst trading day since becoming a public company on Monday, with shares plunging 16.4 per cent after the company announced plans for its first investment-grade bond offering. The move aims to raise at least $20 billion to support its artificial intelligence expansion plans. The fundraising effort has intensified concerns about whether major technology companies can continue financing the enormous investments required to compete in the AI sector. SpaceX said on Monday that it holds more than $100 billion in cash. Despite the recent sell-off, SpaceX shares ended Monday at $154, remaining above the company's initial public offering price of $135. However, enthusiasm surrounding artificial intelligence stocks and the SpaceX listing appears to be cooling across global markets. The Nasdaq index in New York fell 1.3 per cent on Monday, weighed down by a 5 per cent decline in Alphabet shares and a 4.8 per cent drop in Amazon. Market volatility extended to Asia on Tuesday. Trading on South Korea's benchmark Kospi index was temporarily halted after a sharp sell-off in AI chipmakers pushed the index down by 10 per cent. Japan's Nikkei fell 3.6 per cent, while US stock futures also pointed to significant losses before the opening bell.

Musk's fortune is closely tied to his 38 per cent stake in SpaceX, whose shares have retreated for three consecutive sessions. The slide has wiped out around $928 billion in market value, bringing the company's valuation down from a peak of $2.9 trillion to slightly over $2 trillion.

Days after becoming world's first trillionaire, Elon Musk loses record $350 billion

After SpaceX's initial public offering on Friday (Jun 12), Elon Musk's combined SpaceX and Tesla stakes put his net worth at roughly $1.05 trillion, making him Earth's first trillionaire. It would be interesting to compare his net worth with the Gross Domestic Product of various nations. A basic comparison shows that Musk's net worth is more than the GDP of nearly 160 countries. Let's analyse the data with figures mainly taken from the International Monetary Fund (IMF).<h2>Crunching the numbers: Nominal GDP estimates of nations</h2>At the time of writing this, the GDP of top nations in IMF website at current prices , also known as nominal GDP, is given below, in the order of Rank, country&nbsp;and GDP in US$ trillion. 1. United States&nbsp;&nbsp;&nbsp;&nbsp;32.38 2.&nbsp;&nbsp;&nbsp;&nbsp;China&nbsp;&nbsp;&nbsp;&nbsp;20.85 3.&nbsp;&nbsp;&nbsp;&nbsp;Germany&nbsp;&nbsp;&nbsp;&nbsp;5.45 4&nbsp;.&nbsp;&nbsp;&nbsp;Japan&nbsp;&nbsp;&nbsp;&nbsp;4.4 5.&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom&nbsp;&nbsp;&nbsp;&nbsp;4.26 6.&nbsp;&nbsp;&nbsp;&nbsp;India&nbsp;&nbsp;&nbsp;&nbsp;4.15 7.&nbsp;&nbsp;&nbsp;&nbsp;France&nbsp;&nbsp;&nbsp;&nbsp;3.6 8.&nbsp;&nbsp;&nbsp;&nbsp;Russia&nbsp;&nbsp;&nbsp;&nbsp;2.7 9.&nbsp;&nbsp;&nbsp;&nbsp;Italy&nbsp;&nbsp;&nbsp;&nbsp;2.7 10.&nbsp;&nbsp;&nbsp;&nbsp;Brazil&nbsp;&nbsp;&nbsp;&nbsp;2.6 11.&nbsp;&nbsp;&nbsp;&nbsp;Canada&nbsp;&nbsp;&nbsp;&nbsp;2.5 12.&nbsp;&nbsp;&nbsp;&nbsp;Spain&nbsp;&nbsp;&nbsp;&nbsp;2.1 13.&nbsp;&nbsp;&nbsp;&nbsp;Australia&nbsp;&nbsp;&nbsp;&nbsp;2.1214.&nbsp;&nbsp;&nbsp;&nbsp;Mexico&nbsp;&nbsp;&nbsp;&nbsp;2.12 15.&nbsp;&nbsp;&nbsp;&nbsp;South Korea&nbsp;&nbsp;&nbsp;&nbsp;1.9 16.&nbsp;&nbsp;&nbsp;&nbsp;Turkey&nbsp;&nbsp;&nbsp;&nbsp;1.6 17.&nbsp;&nbsp;&nbsp;&nbsp;Indonesia&nbsp;&nbsp;&nbsp;&nbsp;1.5 18.&nbsp;&nbsp;&nbsp;&nbsp;Netherlands&nbsp;&nbsp;&nbsp;&nbsp;1.45 19.&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia&nbsp;&nbsp;&nbsp;&nbsp;1.39 20.&nbsp;&nbsp;&nbsp;&nbsp;Switzerland&nbsp;&nbsp;&nbsp;&nbsp;1.1 21.&nbsp;&nbsp;&nbsp;&nbsp;Poland&nbsp;&nbsp;&nbsp;&nbsp;1.1 22. Taiwan&nbsp;&nbsp;&nbsp;&nbsp;0.9<h2>How does Elon Musk's wealth compare to richest 10 nations?</h2>For the year 2025, the top 10 GDPs were the United States at $30.6 trillion, China at $19.4 trillion, Germany at $5.01 trillion, Japan at $4.28 trillion, India at $4.13 trillion, the United Kingdom at $3.96 trillion, France at $3.36 trillion, Italy at $2.54 trillion, Russia at $2.54 trillion and Canada at $2.28 trillion. This means Musk's wealth is around 3.4 per cent of US GDP in 2025. For China, it is 5.4 per cent while for Germany it is 21 per cent. Musk's fortune would be 24.5 per cent of Japan's GDP and &nbsp;26.5 per cent of UK's, 31 per cent of France's, 41 per cent of Italy's, 41 per cent of Russia's and 42.56 per cent of Canada's.Also read: <a href="https://www.wionews.com/business-economy/spacex-went-public-today-but-indians-couldn-t-buy-stock-in-ipo-here-s-why-1781284656634/amp">SpaceX went public today but Indians couldn't buy stock in IPO! Here's why</a><h2>How does Musk's fortune compare with India's economy?</h2>Musk's fortune equals about a quarter of India's $4.1 trillion economy. &nbsp;A $1 trillion fortune is about 25 per cent of India's annual economic output.<a href="https://www.wionews.com/videos/musk-vows-to-reach-mars-as-spacex-makes-wall-street-debut-1781284346523">https://www.wionews.com/videos/musk-vows-to-reach-mars-as-spacex-makes-wall-street-debut-1781284346523</a><h2>Musk's net worth nearly equals 10 nations' GDP</h2>Every economy from rank 17 down to around rank 21 is individually worth roughly $1 trillion or more. &nbsp;Musk's $1.05 trillion networth is nearly the size of some of world's 20th-largest economies, such as Poland and Switzerland. This means one man's paper wealth roughly equals the entire annual output of several nations. The next few countries have economies lesser than Musk's net worth, including Belgium and Argentina, both at around $0.7 trillion.Also read: <a href="https://www.wionews.com/business-economy/spacex-ipo-soars-and-elon-musk-becomes-world-s-first-trillionaire-1781288775478/amp">SpaceX IPO soars and Elon Musk becomes world's FIRST trillionaire</a><h2>How does Musk's wealth compare to the African continent and the world?</h2>The combined nominal GDP of all African nations would be around $6 trillion. Out of this, Sub-Saharan Africa's output is roughly $2.5 trillion, and the rest comes mainly from North African economies such as Egypt, Algeria, Morocco, Tunisia, and Libya. Musk's $1 trillion plus net worth would be about 25 per cent of Africa's total output. World GDP is around $124 trillion as per IMF 2026 estimates. In other words, $1 trillion is about 1 dollar out of every 124 dollars produced globally each year.Also read: <a href="https://www.wionews.com/world/spacex-just-made-history-1-8-trillion-ipo-is-the-biggest-listing-ever-1781284160310/amp">SpaceX just made history! $1.8 trillion IPO is the biggest listing ever</a><h2>But is it fair to compare Musk's net worth to GDPs of nations?</h2>Quick economics lesson here: Net worth is the value of assets owned by a person. GDP is the value of goods and services produced in one year by an entire economy. A person's net worth is volatile and mostly illiquid equity, not official statistics. Musk himself has noted that his wealth almost entirely consists of his stock holdings in the two companies he heads: Tesla and SpaceX, with under 0.1 per cent in cash. This is a notional value, or paper wealth. From this perspective, it is not strictly an apples-to-apples comparison.

After SpaceX's IPO, Elon Musk's net worth reached about $1.05 trillion. While still a notional number, the amount surpasses the GDP of over 160 countries. Here is how his fortune compares with India, major economies, Africa, and the world.

After SpaceX's initial public offering on Friday (Jun 12), Elon Musk's combined SpaceX and Tesla stakes put his net worth at roughly $1.05 trillion, making him Earth's first trillionaire. It would be interesting to compare his net worth with the Gross Domestic Product of various nations. A basic comparison shows that Musk's net worth is more than the GDP of nearly 160 countries. Let's analyse the data with figures mainly taken from the International Monetary Fund (IMF). Crunching the numbers: Nominal GDP estimates of nations At the time of writing this, the GDP of top nations in IMF website at current prices , also known as nominal GDP, is given below, in the order of Rank, country and GDP in US$ trillion. 1. United States 32.38 2. China 20.85 3. Germany 5.45 4 . Japan 4.4 5. United Kingdom 4.26 6. India 4.15 7. France 3.6 8. Russia 2.7 9. Italy 2.7 10. Brazil 2.6 11. Canada 2.5 12. Spain 2.1 13. Australia 2.12 14. Mexico 2.12 15. South Korea 1.9 16. Turkey 1.6 17. Indonesia 1.5 18. Netherlands 1.45 19. Saudi Arabia 1.39 20. Switzerland 1.1 21. Poland 1.1 22. Taiwan 0.9 How does Elon Musk's wealth compare to richest 10 nations? For the year 2025, the top 10 GDPs were the United States at $30.6 trillion, China at $19.4 trillion, Germany at $5.01 trillion, Japan at $4.28 trillion, India at $4.13 trillion, the United Kingdom at $3.96 trillion, France at $3.36 trillion, Italy at $2.54 trillion, Russia at $2.54 trillion and Canada at $2.28 trillion. This means Musk's wealth is around 3.4 per cent of US GDP in 2025. For China, it is 5.4 per cent while for Germany it is 21 per cent. Musk's fortune would be 24.5 per cent of Japan's GDP and 26.5 per cent of UK's, 31 per cent of France's, 41 per cent of Italy's, 41 per cent of Russia's and 42.56 per cent of Canada's. Also read: SpaceX went public today but Indians couldn't buy stock in IPO! Here's why How does Musk's fortune compare with India's economy? Musk's fortune equals about a quarter of India's $4.1 trillion economy. A $1 trillion fortune is about 25 per cent of India's annual economic output. https://www.wionews.com/videos/musk-vows-to-reach-mars-as-spacex-makes-wall-street-debut-1781284346523 Musk's net worth nearly equals 10 nations' GDP Every economy from rank 17 down to around rank 21 is individually worth roughly $1 trillion or more. Musk's $1.05 trillion networth is nearly the size of some of world's 20th-largest economies, such as Poland and Switzerland. This means one man's paper wealth roughly equals the entire annual output of several nations. The next few countries have economies lesser than Musk's net worth, including Belgium and Argentina, both at around $0.7 trillion. Also read: SpaceX IPO soars and Elon Musk becomes world's FIRST trillionaire How does Musk's wealth compare to the African continent and the world? The combined nominal GDP of all African nations would be around $6 trillion. Out of this, Sub-Saharan Africa's output is roughly $2.5 trillion, and the rest comes mainly from North African economies such as Egypt, Algeria, Morocco, Tunisia, and Libya. Musk's $1 trillion plus net worth would be about 25 per cent of Africa's total output. World GDP is around $124 trillion as per IMF 2026 estimates. In other words, $1 trillion is about 1 dollar out of every 124 dollars produced globally each year. Also read: SpaceX just made history! $1.8 trillion IPO is the biggest listing ever But is it fair to compare Musk's net worth to GDPs of nations? Quick economics lesson here: Net worth is the value of assets owned by a person. GDP is the value of goods and services produced in one year by an entire economy. A person's net worth is volatile and mostly illiquid equity, not official statistics. Musk himself has noted that his wealth almost entirely consists of his stock holdings in the two companies he heads: Tesla and SpaceX, with under 0.1 per cent in cash. This is a notional value, or paper wealth. From this perspective, it is not strictly an apples-to-apples comparison.

After SpaceX's IPO, Elon Musk's net worth reached about $1.05 trillion. While still a notional number, the amount surpasses the GDP of over 160 countries. Here is how his fortune compares with India, major economies, Africa, and the world.

Trillionaire Elon Musk's net worth after SpaceX IPO equals 25 per cent of India's GDP and more than 160 countries' output

Today, Elon Musk is the world's richest person and SpaceX is one of the world's most valuable companies. But in 2008, both Musk and SpaceX were running out of money, and one final rocket launch stood between success and failure.&nbsp;Following SpaceX's historic public listing in June 2026, Musk's fortune surged past the trillion-dollar mark, making him the world's first trillionaire. SpaceX itself is valued at well over $1 trillion after its record-breaking market debut.<h2>Yet less than two decades ago, the picture looked very different.</h2>In 2008, Musk was facing what he later described as one of the toughest periods of his life. SpaceX had suffered three consecutive rocket failures, Tesla was struggling financially, and Musk's personal fortune was rapidly shrinking. The entrepreneur who would later dominate the space industry was close to running out of options.&nbsp;Three failed launches and a rapidly shrinking bank accountMusk founded SpaceX in 2002 with about $100 million from the money he earned after PayPal was sold. His goal was ambitious: build cheaper rockets and eventually help humanity become a multi-planetary species.However, the company's early years were marked by repeated setbacks. The first Falcon 1 rocket launch failed in 2006. A second attempt also failed. Then came a third unsuccessful launch in August 2008. Each failure consumed precious money and raised doubts about whether the company could survive. By then, Musk was funding both SpaceX and Tesla. Cash was running low and investors were becoming nervous.<h2>The launch that changed everything</h2>SpaceX's fourth Falcon 1 mission took place on September 28, 2008. Unlike the previous attempts, this launch successfully reached orbit. It marked the first time a privately developed liquid-fuel rocket reached orbit, a milestone that changed how the aerospace industry viewed private space companies. The success arrived at exactly the right moment. According to accounts of SpaceX's early years, the company was under immense financial pressure. Had the fourth launch failed, the future of the company would have been highly uncertain.<h2>How SpaceX went from survival mode to a trillion-dollar giant</h2>The successful Falcon 1 mission helped build confidence in SpaceX and opened the door for future contracts and growth. The company later developed the Falcon 9 rocket, Dragon spacecraft and the Starlink satellite network. Today, SpaceX launches astronauts, delivers cargo to space and operates thousands of internet satellites through Starlink. It has become one of the most influential companies in the global space sector. Its 2026 public listing became the largest IPO in history, valuing the company at around $1.8 trillion and pushing Musk's wealth above $1 trillion.<h2>How quickly fortunes can change</h2>The story of SpaceX's early years remains one of the most dramatic chapters in modern business history. A company that was struggling to keep its rockets flying in 2008 is now among the world's most valuable firms. For Musk, the difference between failure and success may have come down to a single launch. Had Falcon 1's fourth flight failed, the history of SpaceX and perhaps the modern commercial space industry could have looked very different.

Today, Elon Musk is the world's richest person and SpaceX is one of the world's most valuable companies. But in 2008, both Musk and SpaceX were running out of money, and one final rocket launch stood between success and failure.

Today, Elon Musk is the world's richest person and SpaceX is one of the world's most valuable companies. But in 2008, both Musk and SpaceX were running out of money, and one final rocket launch stood between success and failure. Following SpaceX's historic public listing in June 2026, Musk's fortune surged past the trillion-dollar mark, making him the world's first trillionaire. SpaceX itself is valued at well over $1 trillion after its record-breaking market debut. Yet less than two decades ago, the picture looked very different. In 2008, Musk was facing what he later described as one of the toughest periods of his life. SpaceX had suffered three consecutive rocket failures, Tesla was struggling financially, and Musk's personal fortune was rapidly shrinking. The entrepreneur who would later dominate the space industry was close to running out of options. Three failed launches and a rapidly shrinking bank account Musk founded SpaceX in 2002 with about $100 million from the money he earned after PayPal was sold. His goal was ambitious: build cheaper rockets and eventually help humanity become a multi-planetary species. However, the company's early years were marked by repeated setbacks. The first Falcon 1 rocket launch failed in 2006. A second attempt also failed. Then came a third unsuccessful launch in August 2008. Each failure consumed precious money and raised doubts about whether the company could survive. By then, Musk was funding both SpaceX and Tesla. Cash was running low and investors were becoming nervous. The launch that changed everything SpaceX's fourth Falcon 1 mission took place on September 28, 2008. Unlike the previous attempts, this launch successfully reached orbit. It marked the first time a privately developed liquid-fuel rocket reached orbit, a milestone that changed how the aerospace industry viewed private space companies. The success arrived at exactly the right moment. According to accounts of SpaceX's early years, the company was under immense financial pressure. Had the fourth launch failed, the future of the company would have been highly uncertain. How SpaceX went from survival mode to a trillion-dollar giant The successful Falcon 1 mission helped build confidence in SpaceX and opened the door for future contracts and growth. The company later developed the Falcon 9 rocket, Dragon spacecraft and the Starlink satellite network. Today, SpaceX launches astronauts, delivers cargo to space and operates thousands of internet satellites through Starlink. It has become one of the most influential companies in the global space sector. Its 2026 public listing became the largest IPO in history, valuing the company at around $1.8 trillion and pushing Musk's wealth above $1 trillion. How quickly fortunes can change The story of SpaceX's early years remains one of the most dramatic chapters in modern business history. A company that was struggling to keep its rockets flying in 2008 is now among the world's most valuable firms. For Musk, the difference between failure and success may have come down to a single launch. Had Falcon 1's fourth flight failed, the history of SpaceX and perhaps the modern commercial space industry could have looked very different.

Today, Elon Musk is the world's richest person and SpaceX is one of the world's most valuable companies. But in 2008, both Musk and SpaceX were running out of money, and one final rocket launch stood between success and failure.

Three failed rockets, shrinking cash: How close was Elon Musk to losing everything before SpaceX finally succeeded?

Elon Musk became the world's first trillionaire on Friday (June 12) after shares of SpaceX surged 11 per cent in their market debut following what is being described as the largest initial public offering in history. The aerospace and technology giant's shares closed at $150 on their first day of trading on the Nasdaq exchange in New York, up from the IPO price of $135. The blockbuster offering raised more than $75 billion, valuing the company at nearly $2 trillion and placing it among the ten most valuable publicly traded companies in the United States.According to regulatory filings, SpaceX sold more than 555 million shares, with options for nearly 83 million additional shares, potentially increasing the total amount raised to over $86 billion. The offering was reported to be more than four times oversubscribed, reflecting strong demand from institutional and retail investors alike.Also read: <a href="https://www.wionews.com/trending/the-dog-who-saved-the-1966-fifa-world-cup-how-pickles-solved-football-s-greatest-mystery-1781283302241">How a collie named Pickles found the stolen 1966 FIFA World Cup trophy</a>The debut capped weeks of intense investor enthusiasm surrounding the company, which has evolved from a rocket manufacturer into a sprawling satellite and artificial intelligence conglomerate. SpaceX now incorporates Musk's AI venture xAI, which also includes social media platform X, formerly known as Twitter.Speaking at a launch event in Starbase, Texas, Musk outlined the company's long-term ambitions for space exploration. "SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond," Musk said while addressing employees. "I'm confident at this point that with the incredible team that we have here at SpaceX, we will do that for you," he added.Celebrations also took place in New York, where the company displayed a neon sign in Times Square proclaiming: "Building the infrastructure to the future."Also read: <a href="https://www.wionews.com/world/how-pakistan-s-provinces-are-poorer-than-some-of-the-world-s-poorest-nations-1781274781756">How Pakistan's provinces are poorer than some of the world's poorest nations</a>Around 100 supporters and investors gathered outside Nasdaq's headquarters to mark the occasion. Among them was Sarin Sio of financial company Dovetail, who said Musk's ambitious vision continued to attract investors."He sets very futuristic goals that no one else is doing, and I think that has got a lot of people excited," Sio said.

SpaceX’s historic Nasdaq IPO raised $75 billion, pushing its valuation to nearly $2 trillion and making Elon Musk the world’s first trillionaire as shares surged 11 per cent to $150.

Elon Musk became the world's first trillionaire on Friday (June 12) after shares of SpaceX surged 11 per cent in their market debut following what is being described as the largest initial public offering in history. The aerospace and technology giant's shares closed at $150 on their first day of trading on the Nasdaq exchange in New York, up from the IPO price of $135. The blockbuster offering raised more than $75 billion, valuing the company at nearly $2 trillion and placing it among the ten most valuable publicly traded companies in the United States. According to regulatory filings, SpaceX sold more than 555 million shares, with options for nearly 83 million additional shares, potentially increasing the total amount raised to over $86 billion. The offering was reported to be more than four times oversubscribed, reflecting strong demand from institutional and retail investors alike. Also read: How a collie named Pickles found the stolen 1966 FIFA World Cup trophy The debut capped weeks of intense investor enthusiasm surrounding the company, which has evolved from a rocket manufacturer into a sprawling satellite and artificial intelligence conglomerate. SpaceX now incorporates Musk's AI venture xAI, which also includes social media platform X, formerly known as Twitter. Speaking at a launch event in Starbase, Texas, Musk outlined the company's long-term ambitions for space exploration. "SpaceX wants to be able to take you to the moon, take you to Mars, and ultimately beyond," Musk said while addressing employees. "I'm confident at this point that with the incredible team that we have here at SpaceX, we will do that for you," he added. Celebrations also took place in New York, where the company displayed a neon sign in Times Square proclaiming: "Building the infrastructure to the future." Also read: How Pakistan's provinces are poorer than some of the world's poorest nations Around 100 supporters and investors gathered outside Nasdaq's headquarters to mark the occasion. Among them was Sarin Sio of financial company Dovetail, who said Musk's ambitious vision continued to attract investors. "He sets very futuristic goals that no one else is doing, and I think that has got a lot of people excited," Sio said.

SpaceX’s historic Nasdaq IPO raised $75 billion, pushing its valuation to nearly $2 trillion and making Elon Musk the world’s first trillionaire as shares surged 11 per cent to $150.

SpaceX IPO soars and Elon Musk becomes world's FIRST trillionaire

When SpaceX rang the opening bell on Nasdaq, thousands of new shareholders became part-owners of one of the most ambitious companies on the planet. But buried in the company's regulatory filings is a detail that should give every one of those investors pause: Elon Musk alone controls approximately 85 percent of SpaceX's voting power.&nbsp;How the Dual-Class Structure Works&nbsp;SpaceX's share structure splits ownership into different classes of stock, one class for the public markets, carrying ordinary voting rights, and another class held overwhelmingly by Musk and SpaceX insiders, carrying outsized voting power per share. The result is a company where outside investors can buy economic exposure to SpaceX's growth, but have almost no say in how it is run. Musk will continue to serve simultaneously as SpaceX's Chief Executive Officer, Chief Technical Officer, and Chairman of the Board and will control the election of the very directors meant to provide oversight.&nbsp;Why This Matters for Shareholders&nbsp;In a normal public company, if a CEO makes a string of bad decisions, loses investor confidence, or pursues projects that destroy shareholder value, the board, accountable to shareholders, can replace them. Under SpaceX's structure, that check effectively does not exist. Analysts reviewing the filings have described the arrangement bluntly: it will be very difficult for the board to remove Musk if necessary, meaning shareholders will be unable to remove him if he fails to deliver on promises.&nbsp;This is not a hypothetical concern. SpaceX's business plan rests partly on extremely ambitious, long-horizon goals, including Mars colonization and space-based data centers, that are notoriously difficult to value and have historically seen repeated delays. A shareholder base with no ability to course-correct leadership is betting entirely on Musk's judgment, indefinitely.&nbsp;A Pattern Investors Already Know&nbsp;This is not the first time Musk has structured a company to maximize his personal control. Tesla shareholders have spent years debating Musk's compensation packages and his attention being split across Tesla, X, xAI, Neuralink, The Boring Company, and now a publicly traded SpaceX. SpaceX's filings explicitly acknowledge the risk of related-party transactions between Musk's various companies, deals where the same person sits on both sides of the negotiating table.&nbsp;The Bottom Line&nbsp;None of this means SpaceX cannot succeed, its rocket and Starlink businesses are real, profitable, and growing. But for the millions of retail investors who placed orders hoping to own a piece of the space economy, the fine print matters. Buying SPCX stock means buying into Musk's vision with no meaningful mechanism to challenge it if that vision goes wrong. Governance experts call this a textbook example of weak corporate governance and it is now baked into one of the largest public companies in the world.

SpaceX's IPO filings show Elon Musk retains roughly 85% of voting power through dual-class shares, raising serious governance concerns for new shareholders.

When SpaceX rang the opening bell on Nasdaq, thousands of new shareholders became part-owners of one of the most ambitious companies on the planet. But buried in the company's regulatory filings is a detail that should give every one of those investors pause: Elon Musk alone controls approximately 85 percent of SpaceX's voting power. How the Dual-Class Structure Works SpaceX's share structure splits ownership into different classes of stock, one class for the public markets, carrying ordinary voting rights, and another class held overwhelmingly by Musk and SpaceX insiders, carrying outsized voting power per share. The result is a company where outside investors can buy economic exposure to SpaceX's growth, but have almost no say in how it is run. Musk will continue to serve simultaneously as SpaceX's Chief Executive Officer, Chief Technical Officer, and Chairman of the Board and will control the election of the very directors meant to provide oversight. Why This Matters for Shareholders In a normal public company, if a CEO makes a string of bad decisions, loses investor confidence, or pursues projects that destroy shareholder value, the board, accountable to shareholders, can replace them. Under SpaceX's structure, that check effectively does not exist. Analysts reviewing the filings have described the arrangement bluntly: it will be very difficult for the board to remove Musk if necessary, meaning shareholders will be unable to remove him if he fails to deliver on promises. This is not a hypothetical concern. SpaceX's business plan rests partly on extremely ambitious, long-horizon goals, including Mars colonization and space-based data centers, that are notoriously difficult to value and have historically seen repeated delays. A shareholder base with no ability to course-correct leadership is betting entirely on Musk's judgment, indefinitely. A Pattern Investors Already Know This is not the first time Musk has structured a company to maximize his personal control. Tesla shareholders have spent years debating Musk's compensation packages and his attention being split across Tesla, X, xAI, Neuralink, The Boring Company, and now a publicly traded SpaceX. SpaceX's filings explicitly acknowledge the risk of related-party transactions between Musk's various companies, deals where the same person sits on both sides of the negotiating table. The Bottom Line None of this means SpaceX cannot succeed, its rocket and Starlink businesses are real, profitable, and growing. But for the millions of retail investors who placed orders hoping to own a piece of the space economy, the fine print matters. Buying SPCX stock means buying into Musk's vision with no meaningful mechanism to challenge it if that vision goes wrong. Governance experts call this a textbook example of weak corporate governance and it is now baked into one of the largest public companies in the world.

SpaceX's IPO prospectus reveals Elon Musk will retain control of roughly 85% of shareholder votes through a dual-class structure, making it nearly impossible for the board to remove him even if he fails to deliver on his promises.

Musk controls 85% of SpaceX's votes! Why that should worry every new investor

Elon Musk's SpaceX has officially gone public, and it has done so on a scale Wall Street has never witnessed before. On June 12, 2026, shares of Space Exploration Technologies Corp began trading on the Nasdaq under the ticker SPCX, priced at $135 apiece. At that price, SpaceX's market valuation sits at approximately $1.8 trillion — instantly placing it among the most valuable companies on the planet, ahead of household names like Walmart, ExxonMobil, and most global banks.&nbsp;A Record-Breaking Raise&nbsp;The IPO raised more than $30 billion by selling roughly 555.6 million shares, making it the largest public offering in financial history, easily surpassing previous record-holders such as Saudi Aramco and Alibaba. Bloomberg had reported as early as December 2025 that SpaceX was pursuing a raise far above $30 billion, and by April 2026 some reports suggested the company was seeking a valuation north of $2 trillion before settling closer to $1.8 trillion at pricing.&nbsp;Demand from institutional investors was overwhelming. Order books were oversubscribed with more than $10 billion in bids from large funds, while retail investors — a group typically given only 5 to 10 percent of shares in major IPOs — were offered an unusually large 30 percent allocation, reflecting just how badly Wall Street wanted ordinary people to have a piece of the Musk empire.&nbsp;What SpaceX Actually Sells&nbsp;Behind the ticker symbol is a company with three distinct businesses. Its core rocket launch operations, including the Falcon 9 and Starship programs, generated about $4 billion in revenue in 2025. Its satellite internet division, Starlink, brought in $11.4 billion, by far the largest contributor. And a newer AI infrastructure business, leveraging SpaceX's data centers and computing capacity, added roughly $3 billion. Combined, SpaceX's total 2025 revenue came in at $18.7 billion, a 33 percent jump from the year before.&nbsp;Why This Listing Matters&nbsp;For decades, SpaceX remained one of the most valuable private companies on Earth, raising capital exclusively from venture funds, sovereign wealth funds, and employee share sales — all while avoiding the scrutiny that comes with public markets. That era is now over. As a public company, SpaceX must file quarterly earnings, disclose financial risks, and answer to shareholders in a way it never has before.&nbsp;The listing also arrives amid what analysts are calling a 2026 IPO boom, with other major private tech companies, including OpenAI and Anthropic, reportedly eyeing similar public listings. SpaceX's debut sets the benchmark — and the bar — for how the market will price the next generation of frontier technology companies, from rockets and satellites to artificial intelligence.&nbsp;Whether SpaceX can justify its trillion-dollar price tag over the long run is a question that will now play out in full public view, every quarter, for the first time in the company's 24-year history.

SpaceX debuted on Nasdaq as SPCX at $135 a share, valuing the company at $1.8 trillion and raising over $30 billion in the largest IPO ever recorded.

Elon Musk's SpaceX has officially gone public, and it has done so on a scale Wall Street has never witnessed before. On June 12, 2026, shares of Space Exploration Technologies Corp began trading on the Nasdaq under the ticker SPCX, priced at $135 apiece. At that price, SpaceX's market valuation sits at approximately $1.8 trillion — instantly placing it among the most valuable companies on the planet, ahead of household names like Walmart, ExxonMobil, and most global banks. A Record-Breaking Raise The IPO raised more than $30 billion by selling roughly 555.6 million shares, making it the largest public offering in financial history, easily surpassing previous record-holders such as Saudi Aramco and Alibaba. Bloomberg had reported as early as December 2025 that SpaceX was pursuing a raise far above $30 billion, and by April 2026 some reports suggested the company was seeking a valuation north of $2 trillion before settling closer to $1.8 trillion at pricing. Demand from institutional investors was overwhelming. Order books were oversubscribed with more than $10 billion in bids from large funds, while retail investors — a group typically given only 5 to 10 percent of shares in major IPOs — were offered an unusually large 30 percent allocation, reflecting just how badly Wall Street wanted ordinary people to have a piece of the Musk empire. What SpaceX Actually Sells Behind the ticker symbol is a company with three distinct businesses. Its core rocket launch operations, including the Falcon 9 and Starship programs, generated about $4 billion in revenue in 2025. Its satellite internet division, Starlink, brought in $11.4 billion, by far the largest contributor. And a newer AI infrastructure business, leveraging SpaceX's data centers and computing capacity, added roughly $3 billion. Combined, SpaceX's total 2025 revenue came in at $18.7 billion, a 33 percent jump from the year before. Why This Listing Matters For decades, SpaceX remained one of the most valuable private companies on Earth, raising capital exclusively from venture funds, sovereign wealth funds, and employee share sales — all while avoiding the scrutiny that comes with public markets. That era is now over. As a public company, SpaceX must file quarterly earnings, disclose financial risks, and answer to shareholders in a way it never has before. The listing also arrives amid what analysts are calling a 2026 IPO boom, with other major private tech companies, including OpenAI and Anthropic, reportedly eyeing similar public listings. SpaceX's debut sets the benchmark — and the bar — for how the market will price the next generation of frontier technology companies, from rockets and satellites to artificial intelligence. Whether SpaceX can justify its trillion-dollar price tag over the long run is a question that will now play out in full public view, every quarter, for the first time in the company's 24-year history.

SpaceX debuted on Nasdaq under the ticker SPCX at $135 a share, valuing Elon Musk's rocket and satellite company at roughly $1.8 trillion and raising over $30 billion, the largest initial public offering in history.

SpaceX just made history! $1.8 trillion IPO is the biggest listing ever

Elon Musk's SpaceX IPO is set to be traded on June 12, 2026, on the Nasdaq Global Select Market and Nasdaq Texas under the ticker “SPCX”. The rocket, satellite and AI company is pricing its 555,555,555 shares of its Class A common stock at $135 per share. The offering will continue till June 15, 2026 and is expected to raise $75 billion, putting its valuation around $1.77 trillion. Forbes Wealth pegged Musk's valuation at $850billion ahead of the offering, and if all goes well in the IPO, Musk's value will catapult to an unprecedented trillion-dollar territory, making him the first trillionaire in history. According to UK charity Oxfam, which puts the amount in perspective, if Musk spends approximately $1 million every day, it will take approximately 2,740 years to spend one trillion.Also Read: <a href="https://www.wionews.com/world/iran-spacex-starlink-military-targets-west-asia-1781251881890">Iran declares SpaceX and Starlink assets in West Asia legitimate military targets</a><h2>Elon Musk's net worth</h2>Born in Pretoria, South Africa, to a Canadian mother and South African father, Musk took over as the CEO of Tesla in 2008. He then gradually built his empire with SpaceX rockets, Starlink satellite, Twitter, which he rebranded as X and the Grok AI model. Most of Musk's wealth rests with SpaceX, where he holds a stake worth roughly $866 billion, along with Tesla's stocks, $260 billion, and the rest in Neuralink, Boring Company, and X, where he owns a roughly 1 per cent stake, which puts Elon Musk at approximately $1.1. It will make him not just richer, but richer than the combined next four in line, Larry Ellison, Larry Page and Sergey Brin.&nbsp;"The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth ​tomorrow," said Matt Durot, deputy editor at Forbes Wealth.&nbsp;He is approximately worth 3-4 per cent of US GDP, almost 25-26 per cent of India's GDP and more than the annual output of many South American countries, like Chile, Argentina, almost all of the African countries, like South Africa, Egypt, Algeria, and some Asian countries like Sri Lanka and Pakistan.&nbsp;&nbsp;

Elon Musk could become the world's first trillionaire as SpaceX begins trading on Nasdaq under the ticker SPCX. The offering values the company at nearly $1.77 trillion.

Elon Musk's SpaceX IPO is set to be traded on June 12, 2026, on the Nasdaq Global Select Market and Nasdaq Texas under the ticker “SPCX”. The rocket, satellite and AI company is pricing its 555,555,555 shares of its Class A common stock at $135 per share. The offering will continue till June 15, 2026 and is expected to raise $75 billion, putting its valuation around $1.77 trillion. Forbes Wealth pegged Musk's valuation at $850billion ahead of the offering, and if all goes well in the IPO, Musk's value will catapult to an unprecedented trillion-dollar territory, making him the first trillionaire in history. According to UK charity Oxfam, which puts the amount in perspective, if Musk spends approximately $1 million every day, it will take approximately 2,740 years to spend one trillion. Also Read: Iran declares SpaceX and Starlink assets in West Asia legitimate military targets Elon Musk's net worth Born in Pretoria, South Africa, to a Canadian mother and South African father, Musk took over as the CEO of Tesla in 2008. He then gradually built his empire with SpaceX rockets, Starlink satellite, Twitter, which he rebranded as X and the Grok AI model. Most of Musk's wealth rests with SpaceX, where he holds a stake worth roughly $866 billion, along with Tesla's stocks, $260 billion, and the rest in Neuralink, Boring Company, and X, where he owns a roughly 1 per cent stake, which puts Elon Musk at approximately $1.1. It will make him not just richer, but richer than the combined next four in line, Larry Ellison, Larry Page and Sergey Brin. "The second richest person has been hovering around $300 billion, so about less than one-third of what Musk can potentially be worth tomorrow," said Matt Durot, deputy editor at Forbes Wealth. He is approximately worth 3-4 per cent of US GDP, almost 25-26 per cent of India's GDP and more than the annual output of many South American countries, like Chile, Argentina, almost all of the African countries, like South Africa, Egypt, Algeria, and some Asian countries like Sri Lanka and Pakistan.

Elon Musk could become the world's first trillionaire as SpaceX begins trading on Nasdaq under the ticker SPCX. The offering values the company at nearly $1.77 trillion.

Elon Musk's net worth could top $1 trillion as SpaceX begins trading on Nasdaq

In a first since 2020, Mark Zuckerberg surged past Elon Musk to become the third-richest person in the world according to Bloomberg's ranking. Zuckerberg and Musk's net worth is $186.

In a first since 2020, Mark Zuckerberg surged past Elon Musk to become the third-richest person in the world according to Bloomberg's ranking. Zuckerberg and Musk's net worth is $186.9 billion and $180.6 billion respectively. Musk Slips as Tesla Faces Challenges The shift came after Reuters reported that Tesla Inc. had canceled plans for a less-expensive car. Though Musk denied the report, the Tesla stock took a hit. Elon Musk is currently ranked fourth on the Bloomberg Billionaires Index. In contrast, with the success of Meta, Zuckerberg's wealth has grown, and the company stock has risen to new heights this year getting him in the top 3 for the first time since 2020. This year Tesla stock has seen a 34% drop meanwhile, Meta Platforms Inc. has surged by 49% Also read: Meta makes changes on deepfakes and other altered content ahead of US Presidential election Tech Dominance in Wealth Creation With the AI boom in full swing, a broader trend shows that technology companies have been doing well in the market. Meanwhile, EVs (electric vehicle) stocks have seen a dip. Beyond Wealth: A Public Rivalry Elon Musk and Mark Zuckerberg's rivalry beyond business is well known. They both have gotten into public disputes from time to time. Last year, Musk even challenged the Meta CEO to a public boxing match, which did not happen. This came after Meta launched Threads which is a direct competitor to Elon Musk-owned Twitter, now X. Who are the two richest persons according to the Bloomberg Billionaires Index At the top spot in the Bloomberg Billionaires Index is Bernard Arnault the chairman of LVMH Moet Hennessy Louis Vuitton with a total fortune of $207.3 billion. Jeff Bezos the founder of Amazon.com Inc. is the second wealthiest man with a total fortune of $207.3 billion.

Meta CEO Mark Zuckerberg's wealth tops rival Elon Musk for first time since 2020

Elon Musk, the billionaire tech magnate and new owner of Twitter, broke a new dubious record of the largest loss of personal fortune. Musk has lost around $182 billion of personal wealth since 2021. Some sources indicate that the loss figure is close to around $200 billion.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/elon-musk-first-person-in-human-history-to-lose-200-billion-548224">Elon Musk becomes first person in history to lose $200 billion in net worth</a>

After Amazon's Jeff Bezos, Musk was the second-only person with more than $200 billion in&nbsp;"personal fortune", a figure he achieved in January 2021.&nbsp;

How much net worth has Elon Musk really lost?

Elon Musk's net worth dropped from $320 billion in November 2021 to $137 billion as of January 2023. This loss has resulted in breaking of the world record for the largest-ever loss of personal fortune. The previous record for largest-ever loss of personal fortune was held by Japanese tech investor Masayoshi Son in 2000.&nbsp;

What led to Musk's biggest-ever loss of personal fortune?

The loss is largely attributed to the drop in Tesla stock value. Reports suggest that Musk sold around $7 billion worth of Tesla stock to finance his buyout of Twitter, with another $4 billion in November. He further sold $3.58 billion worth of stock, bringing his total sell-off close to $23 billion.

ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/us-elon-musk-loses-200-billion-in-a-year-entered-2022-with-340-billion-548392">US: Elon Musk loses $200 billion in a year</a>

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Elon Musk's decline in personal fortune was coupled with a massive 11 per cent fall in Tesla shares on December 27.&nbsp;

The hostile takeover of Twitter was coupled with Musk's polarising behaviour on the micro-blogging platform. This was cited as a reason for biggest-ever sell off of Tesla shares ever since the company went public in 2010.&nbsp;

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Elon Musk, the billionaire tech magnate and new owner of Twitter, broke a new dubious record of the largest loss of personal fortune. Musk has lost around $182 billion of personal wealth since 2021.

Elon Musk, the billionaire tech magnate and new owner of Twitter, broke a new dubious record of the largest loss of personal fortune. Musk has lost around $182 billion of personal wealth since 2021. Some sources indicate that the loss figure is close to around $200 billion. ALSO READ | Elon Musk becomes first person in history to lose $200 billion in net worth After Amazon's Jeff Bezos, Musk was the second-only person with more than $200 billion in "personal fortune", a figure he achieved in January 2021. How much net worth has Elon Musk really lost? Elon Musk's net worth dropped from $320 billion in November 2021 to $137 billion as of January 2023. This loss has resulted in breaking of the world record for the largest-ever loss of personal fortune. The previous record for largest-ever loss of personal fortune was held by Japanese tech investor Masayoshi Son in 2000. What led to Musk's biggest-ever loss of personal fortune? The loss is largely attributed to the drop in Tesla stock value. Reports suggest that Musk sold around $7 billion worth of Tesla stock to finance his buyout of Twitter, with another $4 billion in November. He further sold $3.58 billion worth of stock, bringing his total sell-off close to $23 billion. ALSO WATCH | US: Elon Musk loses $200 billion in a year × Elon Musk's decline in personal fortune was coupled with a massive 11 per cent fall in Tesla shares on December 27. The hostile takeover of Twitter was coupled with Musk's polarising behaviour on the micro-blogging platform. This was cited as a reason for biggest-ever sell off of Tesla shares ever since the company went public in 2010. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk breaks world record for largest-ever loss of personal fortune

As Twitter takes up more and more of Elon Musk's attention, concerned Tesla Inc. shareholders sold their shares, bringing the billionaire's net worth below $200 billion.

Reportedly they dumped their shares of the firm out of concern that Musk, the company's chief executive and main shareholder, is becoming more and more focused on Twitter.

Watch |&nbsp;Gravitas: Twitter in a debt trap after Musk takeover?

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As per Reuters, since he made his bid for Twitter in April, the company's valuation has decreased by almost half, and his personal wealth has decreased by $70 billion.

Forbes estimates that Musk's current net worth is $194.8 billion, with a significant portion of that coming from his approximately 15 per cent ownership in Tesla, which has a market value of $622 billion.

Meanwhile, Musk has sold 9.5 million Tesla shares worth $4 billion, according to the US Securities and Exchange Commission filings.

The SEC documents revealed on Tuesday show Musk, who financed much of his Twitter purchase with Tesla stock, has sold more than 19 million shares worth in excess of $3.9 billion, reports AFP news agency.

Also read |&nbsp;<a href="https://www.wionews.com/world/twitter-users-may-soon-have-to-pay-more-than-just-8-as-musk-deliberates-putting-platform-behind-paywall-532351" hreflang="en">Twitter users may soon have to pay more than just $8 as Musk deliberates putting platform behind paywall</a>

Musk hasn't tweeted much about Tesla since he bought Twitter, despite the fact that this is what helped him earn followers on the platform. Instead, he announced plans for the social network via Twitter.

"It seems like Elon Musk is spending 100% of the time on Twitter and, you know, it might need more capital," said Infrastructure Capital Management's Jay Hatfield.

Also read |&nbsp;<a href="https://www.wionews.com/world/millions-of-followers-blue-tick-go-down-the-drain-as-twitter-suspends-accounts-for-impersonating-elon-musk-532034">Millions of followers, blue-tick go down the drain as Twitter suspends accounts for impersonating Elon Musk</a>

It took an equity commitment of $33.5 billion and a $13 billion loan commitment last month to close the contentious $44-billion Twitter deal.

Initially, investors fled Tesla because of concern over Musk's stock sale -- he had&nbsp;divested more than $15 billion in shares. Now,&nbsp;Wall Street as per Reuters is&nbsp;concerned that Musk has overextended himself, especially at&nbsp;a time when Tesla, the EV manufacturer is ramping up production and facing increasing competition.

(With inputs from agencies)

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As Twitter takes up more and more of Elon Musk's attention, concerned Tesla Inc. shareholders sold their shares, bringing the billionaire's net worth below $200 billion.

As Twitter takes up more and more of Elon Musk's attention, concerned Tesla Inc. shareholders sold their shares, bringing the billionaire's net worth below $200 billion. Reportedly they dumped their shares of the firm out of concern that Musk, the company's chief executive and main shareholder, is becoming more and more focused on Twitter. Watch | Gravitas: Twitter in a debt trap after Musk takeover? As per Reuters, since he made his bid for Twitter in April, the company's valuation has decreased by almost half, and his personal wealth has decreased by $70 billion. Forbes estimates that Musk's current net worth is $194.8 billion, with a significant portion of that coming from his approximately 15 per cent ownership in Tesla, which has a market value of $622 billion. Meanwhile, Musk has sold 9.5 million Tesla shares worth $4 billion, according to the US Securities and Exchange Commission filings. The SEC documents revealed on Tuesday show Musk, who financed much of his Twitter purchase with Tesla stock, has sold more than 19 million shares worth in excess of $3.9 billion, reports AFP news agency. Also read | Twitter users may soon have to pay more than just $8 as Musk deliberates putting platform behind paywall Musk hasn't tweeted much about Tesla since he bought Twitter, despite the fact that this is what helped him earn followers on the platform. Instead, he announced plans for the social network via Twitter. "It seems like Elon Musk is spending 100% of the time on Twitter and, you know, it might need more capital," said Infrastructure Capital Management's Jay Hatfield. Also read | Millions of followers, blue-tick go down the drain as Twitter suspends accounts for impersonating Elon Musk It took an equity commitment of $33.5 billion and a $13 billion loan commitment last month to close the contentious $44-billion Twitter deal. Initially, investors fled Tesla because of concern over Musk's stock sale -- he had divested more than $15 billion in shares. Now, Wall Street as per Reuters is concerned that Musk has overextended himself, especially at a time when Tesla, the EV manufacturer is ramping up production and facing increasing competition. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Elon Musk's net worth falls below $200bn; Investors dump Tesla shares as he becomes ‘more focused on Twitter'

Tesla boss Elon Musk is heading to trial back in Delaware next week to defend his record $56 billion pay at Tesla. The trial begins Nov. 14 and will be decided by Kathaleen McCormick.

Elon Musk faces trial over $56 billion pay package

Elon Musk created a lot of uproar back in April when he announced his plans to buy Twitter. Many people, including several celebrities, threatened to boycott the popular microblogging site. Now, he really is the master of Twitter having&nbsp;acquired the company for $44 billion, and changed his Twitter bio to 'Chief Twit' and grandly tweeted, "the bird is freed." 
 
His fans are ecstatic. But many have announced doom and gloom, saying, among other things, that under Musk there will be more hate speech, particularly from the right, and less accountability. It does not help that Donald Trump has hailed Musk's Twitter takeover. Some have deactivated their accounts and quit the platform or are threatening to quit. Not all, however, have walked the talk.&nbsp;

Jameela Jamil, a British actress best known for 'The Good Place' and 'She-Hulk', deactivated her account and said in a tweet: "Ah he got Twitter. I would like this to be my what lies here as my last tweet." However, she later got back to the site and deleted that tweet.&nbsp;

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Minutes after Elon Musk became Twitter’s owner, the platform was filled with profanity and a torrent of racist, antisemitic, Islamophobic, homophobic, and transphobic hate speech <a href="https://t.co/136jtrx3CL">https://t.co/136jtrx3CL</a>
— Mia Farrow🇺🇦 (@MiaFarrow) <a href="https://twitter.com/MiaFarrow/status/1586088196068311042?ref_src=twsrc%5Etfw">October 28, 2022</a></blockquote>
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Actress Mia Farrow responded to a tweet by Musk saying he hopes his "worst critics" remain on Twitter as that is what free speech means."

“Well if Twitter becomes even more toxic – with Trumpy-treasonous lies &amp; all the hatred – it will be taken less seriously, and people like me will quit for peace of mind," Farrow replied.

Also Read:<a href="https://www.wionews.com/business-economy/that-is-why-i-bought-twitter-elon-musks-latest-message-for-advertisers-528926">&nbsp;'That is why I bought Twitter': Elon Musk's latest message for advertisers</a>

British-American actor Alex Winter, known for the 'Bill &amp; Ted' franchise seems to have made good on his promise as his account is not accessible. He had earlier shared a meme that depicted Donald Trump, Kanye West, and Musk as Three Musketeers.&nbsp;

'This is Us' executive producer and actor Ken Olin quit tweeting, “The day @elonmusk takes ownership of Twitter, I’m out. No judgement. Let’s keep the faith. Let’s protect our democracy. Let’s try to be kinder. Let’s try to save the planet. Let’s try to be more generous. Let’s look to find peace in the world.”

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Entering Twitter HQ – let that sink in! <a href="https://t.co/D68z4K2wq7">pic.twitter.com/D68z4K2wq7</a>
— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1585341984679469056?ref_src=twsrc%5Etfw">October 26, 2022</a></blockquote>
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Brian Koppelman, showrunner of 'Billion', tweeted, "Y’all’s, for real, come find me over on instagram and the tok. Gonna really try to take a breather from here for a minute or a month come deal close time.” The Rounders writer previously tweeted, “I can see the logic in taking a long twitter hiatus when EM takes it over.” He also appears to have made his profile private.&nbsp;

Actor Josh Gad tweeted, "Large exodus happening on this platform. Not sure if I stay or not. Leaning toward staying, but if today is a sign of things to come, not sure what the point is. Freedom of speech is great. Hate speech intended to incite harm, (with no consequences) ain’t what I signed up for."

Filmmaker and actor Rob Reiner, meanwhile, urged his followers not to quit but to vote for Democrats in the mid-term elections. "For those who are fighting to preserve our Constitutional Democracy, now is not the time to leave Twitter. Now is the time to VOTE BLUE!" he wrote.&nbsp;

Elon Musk created a lot of uproar back in April when he announced his plans to buy Twitter. Many people, including several celebrities, threatened to boycott the popular microblogging site.

Elon Musk created a lot of uproar back in April when he announced his plans to buy Twitter. Many people, including several celebrities, threatened to boycott the popular microblogging site. Now, he really is the master of Twitter having acquired the company for $44 billion, and changed his Twitter bio to 'Chief Twit' and grandly tweeted, "the bird is freed." His fans are ecstatic. But many have announced doom and gloom, saying, among other things, that under Musk there will be more hate speech, particularly from the right, and less accountability. It does not help that Donald Trump has hailed Musk's Twitter takeover. Some have deactivated their accounts and quit the platform or are threatening to quit. Not all, however, have walked the talk. Jameela Jamil, a British actress best known for 'The Good Place' and 'She-Hulk', deactivated her account and said in a tweet: "Ah he got Twitter. I would like this to be my what lies here as my last tweet." However, she later got back to the site and deleted that tweet. Minutes after Elon Musk became Twitter’s owner, the platform was filled with profanity and a torrent of racist, antisemitic, Islamophobic, homophobic, and transphobic hate speech https://t.co/136jtrx3CL — Mia Farrow🇺🇦 (@MiaFarrow) October 28, 2022 × Actress Mia Farrow responded to a tweet by Musk saying he hopes his "worst critics" remain on Twitter as that is what free speech means." “Well if Twitter becomes even more toxic – with Trumpy-treasonous lies & all the hatred – it will be taken less seriously, and people like me will quit for peace of mind," Farrow replied. Also Read: 'That is why I bought Twitter': Elon Musk's latest message for advertisers British-American actor Alex Winter, known for the 'Bill & Ted' franchise seems to have made good on his promise as his account is not accessible. He had earlier shared a meme that depicted Donald Trump, Kanye West, and Musk as Three Musketeers. 'This is Us' executive producer and actor Ken Olin quit tweeting, “The day @elonmusk takes ownership of Twitter, I’m out. No judgement. Let’s keep the faith. Let’s protect our democracy. Let’s try to be kinder. Let’s try to save the planet. Let’s try to be more generous. Let’s look to find peace in the world.” Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7 — Elon Musk (@elonmusk) October 26, 2022 × Brian Koppelman, showrunner of 'Billion', tweeted, "Y’all’s, for real, come find me over on instagram and the tok. Gonna really try to take a breather from here for a minute or a month come deal close time.” The Rounders writer previously tweeted, “I can see the logic in taking a long twitter hiatus when EM takes it over.” He also appears to have made his profile private. Actor Josh Gad tweeted, "Large exodus happening on this platform. Not sure if I stay or not. Leaning toward staying, but if today is a sign of things to come, not sure what the point is. Freedom of speech is great. Hate speech intended to incite harm, (with no consequences) ain’t what I signed up for." Filmmaker and actor Rob Reiner, meanwhile, urged his followers not to quit but to vote for Democrats in the mid-term elections. "For those who are fighting to preserve our Constitutional Democracy, now is not the time to leave Twitter. Now is the time to VOTE BLUE!" he wrote.

After Musk's Twitter takeover, celebs threaten to quit social media site: 'Not sure what the point is'

Tesla Inc chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc's top boss Jeff Bezos to become the world's richest man, Bloomberg News reported on Thursday.

Tesla CEO Elon Musk leaves behind Amazon's Bezos to become world's richest person

Nations across the globe have witnessed the severe impact of the coronavirus pandemic on their economy, but American billionaires see a jump on their wealth.&nbsp;

The combined wealth of US billionaires that include Jeff Bezos, Mark Zuckerberg, and Elon Musk surged by more than $565 billion or 19% since the beginning of the outbreak in the country, as per a report published by the Institute for Policy Studies (IPS).

Also read |&nbsp;<a href="https://www.wionews.com/world/divorce-that-creates-a-billionaire-chinese-couple-parting-ways-with-a-settlement-of-32-billion-302587">Divorce that creates a billionaire: Chinese couple parting ways with a settlement of $3.2 billion</a>

"These statistics remind us that we are more economically and racially divided than at any time in decades," Chuck Collins said, a co-author of the report.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/2153-billionaires-have-more-money-than-46-billion-people-combined-oxfam-275420">2,153 billionaires have more money than 4.6 billion people combined: Oxfam</a>

In the report, which includes the 11-week period, Amazon's founder Bezos's wealth rose by $36.2 billion, while Facebook CEO Zuckerberg saw it soar by nearly $30.1 billion. &nbsp;

Tesla Inc CEO Musk's net worth also soared by $14.1 billion.

Last week, the wealth of US billionaires jumped by $79 billion, according to the report. 
&nbsp;

Nations across the globe have witnessed the severe impact of the coronavirus pandemic on their economy, but American billionaires see a jump on their wealth. The combined wealth of US billionaires that include Jeff Bezos, Mark Zuckerberg, and Elon Musk surged by more than $565 billion or 19% since the beginning of the outbreak in the country, as per a report published by the Institute for Policy Studies (IPS).

Nations across the globe have witnessed the severe impact of the coronavirus pandemic on their economy, but American billionaires see a jump on their wealth. The combined wealth of US billionaires that include Jeff Bezos, Mark Zuckerberg, and Elon Musk surged by more than $565 billion or 19% since the beginning of the outbreak in the country, as per a report published by the Institute for Policy Studies (IPS). Also read | Divorce that creates a billionaire: Chinese couple parting ways with a settlement of $3.2 billion "These statistics remind us that we are more economically and racially divided than at any time in decades," Chuck Collins said, a co-author of the report. Also read | 2,153 billionaires have more money than 4.6 billion people combined: Oxfam In the report, which includes the 11-week period, Amazon's founder Bezos's wealth rose by $36.2 billion, while Facebook CEO Zuckerberg saw it soar by nearly $30.1 billion. Tesla Inc CEO Musk's net worth also soared by $14.1 billion. Last week, the wealth of US billionaires jumped by $79 billion, according to the report.

US billionaires get richer during coronavirus pandemic, combined wealth soar by half a trillion