Elon Musk’s net worth has tumbled by roughly $500 billion after SpaceX shares cratered 40% in the past 30 days, according to data from crypto analytics firm Arkham. The stock, which had briefly made Musk the world’s first trillionaire, now trades below its IPO price, while Bitcoin has held relatively steady in a narrow $60,000–$65,000 range.
SpaceX’s IPO Rally Reverses Sharply
SpaceX went public in one of the largest initial public offerings in history, with shares initially priced at $160. By June 16, 2026, the stock had soared to $225, pushing Musk’s net worth past the $1 trillion mark for the first time. However, the rally proved short-lived. The stock soon reversed course, falling below the IPO price to find support at $150, then languishing before sliding further. At press time, SPCX is trading under $140, bringing SpaceX’s valuation down from a peak of $2.9 trillion to below $1.6 trillion. Musk’s total net worth now sits south of $900 billion.
The sell-off reflects broader market concerns over high interest rates, skepticism about an “AI bubble,” heavy capital expenditures, and doubts about whether elevated valuations are justified amid a weakening macroeconomic outlook.
Bitcoin Holds Range Despite Scare
Bitcoin has outperformed SpaceX over the past month, trading largely within a $60k–$65k corridor. The cryptocurrency faced a brief scare earlier in the month when it dipped below the critical $60,000 support level, but buyers quickly stepped in to push prices back up. Analysts warn that a sustained break below that level could have triggered a drop to $50,000 or lower.
Musk’s Focus on SpaceX and Starlink
Elon Musk has stepped back from Tesla and other ventures to concentrate fully on SpaceX, the future of satellite communications through Starlink, and deep space exploration. Despite the company’s progress in deploying orbital infrastructure, it has yet to generate profits that justify its multitrillion-dollar valuation.