Elon Musk Loses $488 Billion in Month Amid SpaceX, Tesla Slumps
Over the past month, Elon Musk's net worth has dropped by an average of $16.3 billion per day due to declines in his primary holdings at SpaceX and Tesla. After a brief period where he became the world’s first trillionaire following SpaceX’s IPO, shares fell nearly 45%, erasing over $1 trillion from its valuation. Meanwhile, Tesla reported weaker-than-expected earnings despite strong revenue, with free cash flow turning negative for the quarter. Musk remains the richest person globally but has seen his wealth fall to around $722–833 billion depending on tracking methods. During an interview with The Economist, he predicted that AI will surpass human intelligence within five years and suggested money may become irrelevant by 2036 due to technological abundance. The contrast between Musk’s long-term vision and current market performance is stark: while Tesla shares are down over 31% year-to-date, NVIDIA has surged nearly 5%, reaching a $5 trillion valuation as demand for AI hardware grows.
Topics: AI predictions Elon Musk net worth decline SpaceX IPO Tesla earnings