Musk’s trillion-dollar wipeout: SpaceX and Tesla erase hundreds of billions

Elon Musk’s wealth has plunged after SpaceX’s post-IPO decline and Tesla’s weak Q2 results, with a Starship engine failure amplifying the hit. SpaceX stock slid from a peak around $225 to about $113, and Musk’s net worth fell from about $1.45 trillion to roughly $738 billion in five weeks, erasing hundreds of billions and fueling mega-merger chatter as investors watch SpaceX earnings and potential investor unlocks. Short sellers have profits from the move as Musk retains control via dual-class shares.