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Elon Musk's fortune takes a $300 billion hit as SpaceX sees $1 trillion rout in market value

Posted on June 23, 2026
By Business News Today
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1 min read

Elon Musk's fortune takes a $300 billion hit as SpaceX sees $1 trillion rout in market value

Elon Musk's net worth has dropped by an estimated $350 billion after SpaceX shares tumbled more than 30% from their post-IPO peak, wiping out nearly $1 trillion in market value. Concerns over valuation, debt-funded expansion, AI spending and broader tech weakness have fuelled the sharp correction.