SpaceX Drops 31% As Elon Musk Loses His Trillionaire Crown

SpaceX shares have erased much of their post-IPO surge, pushing Elon Musk below the $1 trillion wealth mark after a brief run at the top.

Key Points:

SpaceX Selloff

Space Exploration Technologies Corp. priced its initial public offering at $135 a share and opened at $150 on Nasdaq on Jun. 12.

The debut briefly turned Musk into the world’s first trillionaire, with his fortune reaching $1.32 trillion by Jun. 16 as the stock climbed to $225.64.

That rally has since reversed. SPCX recently traded near $156, down 31% from its high, while Bloomberg placed Musk’s net worth at $957 billion on Jun. 24.

Monday’s session showed how quickly the move changed. SpaceX shares fell more than 16% that day, wiping about $240 billion from Musk’s fortune and cutting his net worth to roughly $1.08 trillion.

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Musk Fortune

The pressure is not limited to SpaceX. Alphabet, Meta, Microsoft and Amazon also suffered some of their worst sessions of the past year during the broader technology selloff.

Tesla has added to the strain, with its shares down more than 7% for the year, leaving Musk exposed to weakness across several major holdings.

SpaceX now faces a lockup schedule that could test demand again. Early insider shares may reach the market in late July, before the standard 180-day lockup expires on Dec. 8.

The company’s record $75 billion IPO valued it near $1.77 trillion, but the business reported a $4.9 billion net loss in 2025, leaving analysts divided over whether public markets moved too far too fast.

Musk still leads the wealth rankings by a wide margin, with Larry Page in second at $297 billion. The key question is whether SpaceX can stabilize before more insider shares become eligible for sale. The latest slide follows a fast IPO cycle. SpaceX priced at $135, opened at $150, hit $225.64 within days and then fell back toward its opening range.

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