Elon Musk’s personal wealth has contracted by more than $51 billion following another steep decline in SpaceX shares on Tuesday.
The drop marks the latest leg in a severe downturn for the aerospace and artificial intelligence company, which has seen its stock price fall below its initial public offering level.
The selloff represents a dramatic reversal for the firm, which has suffered three consecutive sessions of sharp declines.
This latest move compounds the damage from a previous single-session collapse of 35%, which had already stripped Musk of his status as the world’s first trillionaire and erased more than $1 trillion from the company’s market capitalization.
The sustained pressure on SpaceX equity highlights the volatility facing high-growth tech and aerospace names in the current market regime.
With the stock trading below its IPO price, investor sentiment has shifted sharply from the earlier optimism that drove the company’s valuation to record highs.