Tesla and SpaceX Selloff Erases Up to $700B of Elon Musk’s Paper Wealth
TL;DR Summary
Tesla’s stock drop after weak Q2 results and SpaceX’s slide have erased an estimated $650–$700 billion of Elon Musk’s paper wealth in about five weeks, though voting power remains strong due to SpaceX’s dual-class structure. Tesla fell 14.5% after reporting Q2-adjusted earnings of $0.33 per share with negative free cash flow as capital spending surged, while SpaceX’s private-market value sits below IPO and peak levels, contributing to roughly $15.5 billion in paper gains for short sellers. Investors are eyeing SpaceX’s first earnings report and the next Starship test flight.
- Tesla, SpaceX Selloff Cuts Elon Musk's Paper Wealth by Up to $700 Billion Yahoo Finance
- Reality Bites Elon Musk and His Tesla, SpaceX Believers WSJ
- Here’s how much £5,000 invested in SpaceX stock could be worth in 12 months… Yahoo Finance UK
- Musk's bad week: Tesla suffers worst slump since 2022, SpaceX drops ahead of Starship test flight CNBC
- Remember Tesla? The Atlantic
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