Elon Musk loses $45 billion…and SpaceX shares fall 38%

The wealth of American billionaire Elon Musk fell below $900 billion, with SpaceX’s stock continuing to fall and approaching its initial public offering price, despite Wall Street’s continued bets on the company’s future and its expectations of a rise in its market value in the long term.

Musk’s wealth fell below the level of $900 billion, against the backdrop of a decline in shares of the rocket manufacturer SpaceX by 4.25%, reaching $139.14, close to its initial public offering price of $135, according to Forbes.

These losses, in addition to the decline in Tesla’s stock by more than 3%, led to the erasure of approximately $45.7 billion of Musk’s wealth, settling at $871.6 billion, despite him maintaining the top spot on the list of the world’s richest people.

Musk’s wealth reached its highest level at $1.45 trillion on June 16, 2026, when SpaceX shares exceeded $225, before losing more than 38% of its value since then.

The list of the world’s richest people witnessed remarkable changes after a sharp decline in the shares of technology companies, as the American billionaire Larry Ellison fell to eighth place in the world, after major losses in Oracle shares, while Elon Musk’s wealth shrank by about 46 billion dollars in one session, despite his maintaining the top spot on the list.

Oracle’s stock fell by more than 6% during Monday’s trading, reaching $131.54, continuing its sharp decline of 47% since it hit $250 on the first of last June.

This decline caused Ellison’s wealth – who owns about 40% of the company’s shares – to shrink by $8 billion in one day, to settle at $175.2 billion, compared to its peak, which exceeded $300 billion in early June, when he was ranked second in the world behind billionaire Elon Musk.