Elon Musk’s estimated net worth fell to about $738 billion on July 23, 2026, from a $1.45 trillion peak in June. This event happened as SpaceX and Tesla shares tumbled. The decline remains a paper loss, reflecting lower market valuations rather than a confirmed cash loss or sale of Musk’s holdings to date.

Thekabarnews.com—Elon Musk’s estimated fortune has fallen by roughly $700 billion in five weeks. Sharp declines in SpaceX and Tesla shares erased much of the wealth created by SpaceX’s record-breaking stock market debut.

Musk’s net worth dropped from approximately $1.45 trillion on June 16 to about $738 billion at the July 23 close. This figure is according to an Investing.com analysis citing the Bloomberg Billionaires Index.

The decline does not mean Musk lost that amount in cash. Most of his wealth is tied to equity holdings. Their estimated value changes with the market prices of Tesla and SpaceX.

SpaceX shares were priced at $135 for the company’s June initial public offering. The stock climbed to an intraday record of $225.64 on June 16 before retreating to $112.96 on Friday, July 24. That represented a decline of nearly 50% from its peak and about 16% below the IPO price.

The company raised $75 billion through the offering, making it the largest US IPO on record, according to AP News.

Analysts have linked SpaceX’s reversal to profit-taking and valuation concerns. There is also uncertainty surrounding the release of additional shares after IPO lock-up restrictions expire.

The retreat “seems to be a combination of profit-taking, valuation reassessment and the unwinding of extremely bullish positioning,” Capital.com analyst Daniela Hathorn told Reuters.

Reuters reported that SpaceX lost $4.9 billion in 2025. The company was still valued at 49 times expected revenue in mid-July. 911.5 million employee and early-investor shares could become eligible for sale following its first quarterly report.

Tesla shares also fell sharply after the electric-vehicle manufacturer reported weaker-than-expected second-quarter earnings.

Tesla recorded net income of $1.11 billion, or 32 cents per share.

Adjusted earnings reached 33 cents per share, below the 53-cent analyst forecast compiled by FactSet. Revenue, nevertheless, rose 26% to $28.24 billion, the AP News reported.

Research and development spending increased 49% to $2.37 billion as Tesla invested more heavily in artificial intelligence (AI), robotics and autonomous vehicles. The company’s shares subsequently lost 16.1% over one week. This cut approximately $210 billion from its market value.

Despite the historic paper loss, Musk remained the world’s wealthiest individual as of July 23. His fortune also remained far above those of other leading billionaires.

Wealth rankings are estimates rather than audited cash balances. The Bloomberg Billionaires Index recalculates fortunes after each New York trading day. This means Musk’s ranking could continue to change alongside SpaceX and Tesla share prices.