SpaceX shares have collapsed 35% in a single session, erasing more than $1 trillion from the company's market capitalization and stripping Elon Musk of his status as the world's first trillionaire.
The steep decline marks a dramatic reversal for the aerospace and AI firm, which had seen its share price surge from $135 on June 12 to a peak of $225 just four days later on June 16.
According to reports from Daily Mail, the tumble has reduced Musk's personal fortune by more than $150 billion in one trading day, returning him to billionaire status.
The sell-off underscores the fragility of the valuation that briefly propelled Musk past the $1 trillion threshold.
According to reports from Daily Mail, the tumble has reduced Musk's personal fortune by more than $150 billion in one trading day, returning him to billionaire status.
The volatility reflects the speculative nature of private equity markets, where liquidity events and secondary trading can cause rapid repricing absent of fundamental changes in the underlying business.
This development follows a period of intense scrutiny on Musk's wealth accumulation, which has been closely tied to the performance of both Tesla and SpaceX.