Elon Musk Attempts to Raise $4 Billion for Boring Company Amid Significant Net Worth Decline
Elon Musk has seen his net worth fall by approximately $500 billion in a single month, dropping from around $1.32 trillion to about $832 billion as of July 27, 2026. The decline was primarily driven by losses in SpaceX and Tesla (TSLA), with the latter missing Q2 earnings expectations and reporting negative free cash flow. In response, Musk is reportedly seeking to raise around $4 billion for his tunneling venture, The Boring Company, at a valuation of approximately $20 billion. Tesla's second-quarter results showed revenue of $28.24 billion but adjusted earnings that missed consensus by 38%, with the stock falling nearly 18% in one week and over 30% year to date. The Boring Company, despite having built only about 2.4 miles of tunnel across seven years, is attempting a significant valuation increase from its $5.7 billion worth as of 2022. The success of the fundraising will depend on who leads it and whether Las Vegas proceeds with new Loop segments before year-end.
Tickers: $TSLA
Topics: Elon Musk net worth decline Tesla The Boring Company funding