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SpaceX loses $1.2 trillion after market surge
SpaceX has lost more than $1.2 trillion in market value since June, roughly equal to Tesla’s current $1.22 trillion valuation.
Image: iXBT
SpaceX has lost more than $1.2 trillion in market capitalization since mid-June, a decline roughly equal to the current value of Tesla, estimated at about $1.22 trillion. The drop followed a sharp surge after SpaceX began trading on the stock market.
SpaceX shares traded at $225.6 in mid-June. By the close of trading on July 27, they had fallen to $113.5—almost half their previous value—driving the company’s market capitalization sharply lower.
Against that backdrop, Elon Musk earlier referred to himself ironically as a “former trillionaire.”
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According to the Bloomberg Billionaires Index, Musk became the first person in history with a fortune above $1 trillion on June 12, after trading in SpaceX shares began. By June 24, his wealth had fallen to $957 billion, and it is now estimated at approximately $709 billion.
Musk nevertheless remains the richest person in the world.
Enterprise Editor
Marcus follows the money. He covers enterprise software, cloud architecture, and the tectonic shifts in Big Tech strategy. He translates dense earnings calls and complex M&A activity into actionable insights about where the industry is actually heading. If a tech giant makes a silent pivot, Marcus is usually the first to notice.
via iXBT
