Musk loses $350 Billion as SpaceX shares slide

Elon Musk’s net worth declined by roughly $350 billion after SpaceX shares fell to $154 from a post-IPO high of $225.80. Data show Musk lost more than $152 billion on Monday alone. His estimated net worth is now about $1.08 trillion, down from more than $1.3 trillion last week.

SpaceX’s SPCX stock moved lower in the days after the company’s initial public offering as investors sold shares following the early peak. Traders booked gains after the stock reached its record high, triggering a broad retreat in the newly listed shares.

Market participants cited several factors behind the decline. Some investors engaged in profit-taking and the initial IPO enthusiasm cooled. The company announced a proposed $60 billion acquisition of Cursor, a price some analysts consider high compared with SpaceX’s reported annual recurring revenue, which has been stated above $6 billion. Days after the IPO, the company also launched a first bond sale for $20 billion, a financing step market participants interpreted as preparation for sustained costs tied to its artificial intelligence projects.

Questions about product competitiveness affected sentiment. SpaceX’s AI product, Grok, has a smaller market share than leading models, prompting discussion about how much additional spending would be needed to expand its position. Financial results further influenced investor views: SpaceX reported roughly $18 billion in revenue last year and a net loss near $5 billion. At its peak, the market valued the company at more than $3 trillion, while some analysts have estimated a fair value below $1 trillion.

The stock’s pattern resembles recent listings that surged early and then reversed. Other companies that rose quickly after their IPOs and later traded well below initial highs include Circle, Bullish, Gemini Space Station, Wealthfront and Figma. Historical data show many newly public companies experience an early rise followed by a pullback in the days after listing.

Analysts and market strategists note that future share performance will depend on SpaceX’s revenue growth, profitability and execution on disclosed plans. The company’s next financial reports and updates on Grok and the Cursor transaction are expected to influence investor sentiment in the near term.