Musk's net worth peaked at $1.1 trillion in June but has since fallen to $858 billion, still dwarfing second-place Larry Page's $297 billion. SpaceX (SPCX) grew revenue 92% year-over-year but rattled investors with $18.4 billion in capex, nearly 7x the prior year's spend. Tesla (TSLA) has dropped 24% year-to-date as weak vehicle sales and investor skepticism over Musk's robotics-and-AI vision weigh heavily on shares.
The most widely read finance newsletter on Substack isn't published by a bank, it's Doomberg, where 383,000+ readers get the energy and macro analysis the mainstream press misses. 24/7 Wall St. readers save 17% on their first year here. On June 12 of this year, Elon Musk's net worth hit $1 trillion and briefly moved to $1.1 trillion. Since then, SpaceX (NASDAQ: SPCX) stock sold off after its IPO, and Tesla's (NASDAQ: TSLA) stock has had a terrible year-to-date performance.
Musk's net worth has fallen to $858 billion, though it is still $ 240 billion above where it was at the start of 2026, according to the Bloomberg Billionaire Index. Musk owns 48% of SpaceX but holds a larger stake in special dual-class shares, of which he owns 82%. This gives him complete control of SpaceX.
SpaceX shares have had a wild ride after its June 12 IPO, which priced the stock at $135. Since then, its price has ranged from $104.83 to $225.64. Today, it trades at $149.
That puts its market cap at $1.9 trillion, which makes it the 8th most valuable company in the world. Investors in SpaceX had a real awakening to the company's performance when it released earnings. It posted revenue of $7.8 billion, which was up 92% from the same quarter a year ago.
It had a net loss of $541 million compared to $1 billion in the year-ago period Written by Insiders. Before Doomberg published a word, its team spent long careers in heavy industry, private equity, and the hard sciences. They take no advertisers and serve no institution — which is why their lateral-thinking coverage of energy, finance, and geopolitics reads nothing like consensus financial media.
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