Elon Musk No Longer a Trillionaire as SpaceX Stock Falls Below IPO Price
On July 24, Elon Musk confirmed on X that he is no longer the world’s first trillionaire after his wealth declined due to a sharp drop in SpaceX stock. The company's Nasdaq-listed shares (SPCX) plunged by more than 50% since their June 16 peak of $225.64, trading at around $114 as of July 24—below the IPO price. SpaceX also revealed it holds 18,712 Bitcoin on its balance sheet, valued at approximately $1.2 billion based on current BTC prices. The stock's decline has affected not only Musk’s net worth but also related financial instruments like SpaceX contracts traded on Hyperliquid, which have mirrored the same downward trend. Despite Wall Street analysts maintaining a bullish stance toward SPCX, investor sentiment appears to be shifting as trading volume and open interest in SpaceX-linked futures remain high.
Topics: Bitcoin holdings Elon Musk SpaceX IPO trillionaire status