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 | SPCX Price Prediction) 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
Many SpaceX investors were unhappy with its AI division results. The Space segment generated $962 million in revenue and a net loss of $542 million. The “Connectivity” segment (mostly Starlink) generated $4.3 billion in revenue and a net profit of $1.7 billion. AI generated $2.6 billion in revenue and a $1.3 billion loss. But the bad news is that the company spent $18.4 billion on capital expenditures. As The New York Times reported, “In its first earnings report as a public company, SpaceX said its capital expenditures jumped to $18.4 billion in the second quarter, up nearly seven times from $2.8 billion a year ago.”
AI investment will continue in the tens of billions of dollars as the company builds out data centers.
Tesla has had a bad year since January 1. Its stock is down 24% versus the S&P 500’s 14% gain. That puts its market cap at $1.34 trillion. Musk owns about 20% of Tesla. Its vehicle sales have been mediocre. Many investors do not believe in Musk’s vision of Tesla as a robotics and AI company.
Musk’s net worth is still miles ahead of the second person on the Bloomberg list. Larry Page, one of the Google co-founders has a net worth of $297 billion.
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