Market Chatter: Musk's Fortune Falls Below Pre-SpaceX IPO Levels, Bloomberg Reports

MT Newswires Live08-01 06:09

Elon Musk's net worth has fallen below where it stood before SpaceX's initial public offering priced last month, even after the company's successful Starship launch from its Starbase facility in South Texas last Friday, Bloomberg reported Friday, citing its Billionaires Index.

Musk's wealth peaked at about $1.33 trillion on June 16 and now stands at $684 billion, a decline Bloomberg said exceeds the net worth drop of any other person ever on its list of the world's 500 richest people, aside from Musk himself.

Tesla shares have also contributed to the decline in Musk's wealth, falling 17% since the company's second-quarter results on July 22, the report said.

Elon Musk and SpaceX did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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