Musk Loses $300 Billion In Net Worth As SpaceX Selloff Deepens

SpaceX’s highly anticipated stock market debut is losing momentum, with shares extending losses for a third consecutive trading session on Monday.

The selloff has significantly impacted investor sentiment and erased a large portion of the gains made since the company’s listing.

According to Forbes estimates, the correction has wiped nearly $1 trillion from SpaceX’s market valuation since its peak on June 16.

At the same time, Elon Musk’s personal wealth has also taken a severe hit, declining by more than $300 billion from its recent highs.

On Monday alone, SpaceX shares fell 16.4%, slipping below $155 and dropping beneath the IPO closing price of $160.

From a peak of $225.64 reached on June 16, the stock has now lost over 31% in value.

The decline has sharply reduced Musk’s net worth, which has fallen from a record $1.45 trillion to just under $1.1 trillion, according to Forbes. His single-day loss exceeded $152 billion.

Musk remains the largest shareholder in SpaceX, holding approximately 38% equity, including 4.8 billion shares and additional stock options.

SpaceX’s overall valuation has also contracted rapidly. At its peak, the company was valued at nearly $2.99 trillion, but by Monday it had fallen to around $2 trillion, wiping out close to $928 billion in market capitalization within days.

This decline has also affected its global ranking among the world’s largest companies, pushing it from fourth position to seventh, now trailing firms such as TSMC.

Investor sentiment has been further pressured by external developments. MSCI reportedly assigned SpaceX a CCC rating, the lowest on its ESG scale, citing concerns over environmental, social, and governance risks and stating that the company is lagging industry peers.

Adding to the pressure, SpaceX announced plans to issue bonds to raise funds and refinance short-term debt, allowing it to secure capital without diluting shareholders.

The selloff follows a strong post-IPO rally, during which the stock surged as much as 67% above its $135 listing price. However, enthusiasm has since cooled amid valuation concerns and new corporate developments.

Investor caution also increased after SpaceX announced a $60 billion all-stock acquisition of AI coding startup Cursor, a deal expected to dilute the IPO valuation by about 3.4%.