Musk Loses About $150 Billion as SpaceX Stock Plummets

Elon Musk’s net worth fell by about $150 billion in a single trading day after SpaceX shares dropped 16% on Monday, extending a three-day decline that removed roughly $600 billion from the company’s market value.

SpaceX shares (Nasdaq: SPCX) closed Monday at $154.60, down 16% from the prior session and about 23% below recent highs. The single-day decline reduced the company’s valuation by an estimated $400 billion; over three days estimates put the total drop at about $600 billion, leaving a market capitalization a bit above $2 trillion.

The rout followed an announcement that SpaceX would offer investment-grade bonds for the first time, a borrowing program the company plans to use to finance its artificial-intelligence projects. Investors who had pushed the stock higher after the IPO trimmed positions after the bond plans were disclosed.

SpaceX began trading on June 12 after raising roughly $75 billion in its initial public offering at a $1.75 trillion valuation. The stock reached an intraday high of $225.64 on June 16 before the pullback pushed prices back toward the level of the first trading day.

The decline hit Musk’s paper wealth sharply. After the drop his estimated net worth stood near $1 trillion. Economist Peter Schiff noted that the one-day loss exceeded the estimated net worth of Warren Buffett, roughly $145 billion.

Not all market participants sold. Ark Invest purchased 210,121 SPCX shares, a stake worth about $32.5 million, during the downturn.

Company filings showed an 18,712 bitcoin holding on SpaceX’s balance sheet. Combined with Tesla’s holdings, entities linked to Musk now control more than 30,000 bitcoins. Michael Saylor described SpaceX’s public debut as a milestone for corporate bitcoin adoption.

Market participants will monitor whether the bond issuance leads to sustained selling or represents a short-term reset after the rapid post-IPO gains. Musk has projected that SpaceX could generate roughly $1 trillion in annual revenue by 2030; the company’s use of debt to fund AI initiatives will be watched for its effect on future results and investor demand.